StockNews.com upgraded shares of Northwest Pipe (NASDAQ:NWPX – Free 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
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
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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