Northwest Pipe (NASDAQ:NWPX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Northwest Pipe (NASDAQ:NWPXFree Report) from a hold rating to a buy rating in a report released on Sunday.

A number of other research analysts also recently issued reports on the company. Northland Securities downgraded Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research note on Friday, November 1st. Northland Capmk lowered shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northwest Pipe currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Check Out Our Latest Stock Analysis on NWPX

Northwest Pipe Price Performance

NASDAQ NWPX opened at $54.14 on Friday. Northwest Pipe has a 52 week low of $25.81 and a 52 week high of $55.22. The firm has a market capitalization of $537.01 million, a P/E ratio of 18.41, a PEG ratio of 3.21 and a beta of 0.98. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $46.46 and a 200-day moving average price of $40.35.

Insider Buying and Selling

In related news, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of the transaction, the vice president now directly owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Miles Brittain sold 4,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total transaction of $188,550.00. Following the completion of the sale, the executive vice president now owns 25,858 shares in the company, valued at approximately $1,083,450.20. The trade was a 14.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,800 shares of company stock worth $291,070. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northwest Pipe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWPX. Covestor Ltd raised its holdings in shares of Northwest Pipe by 1,857.6% during the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 613 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Northwest Pipe during the third quarter valued at $67,000. Lazard Asset Management LLC bought a new position in Northwest Pipe during the first quarter valued at $95,000. EntryPoint Capital LLC lifted its position in Northwest Pipe by 120.2% during the first quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,890 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Northwest Pipe in the 3rd quarter worth $165,000. 80.63% of the stock is owned by institutional investors.

About Northwest Pipe

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Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.

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