Northwest Pipe (NASDAQ:NWPX) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a hold rating in a research report released on Monday.

Several other brokerages have also recently issued reports on NWPX. Northland Capmk cut Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Northland Securities downgraded Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.00.

Northwest Pipe Price Performance

NWPX opened at $56.39 on Monday. The company has a market capitalization of $559.39 million, a P/E ratio of 19.04, a PEG ratio of 3.37 and a beta of 0.98. The company has a 50-day moving average of $47.51 and a 200-day moving average of $40.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. Northwest Pipe has a 1-year low of $25.81 and a 1-year high of $57.08.

Insider Buying and Selling

In other news, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction dated 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 owns 9,725 shares in the company, valued at approximately $430,039.50. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Miles Brittain sold 4,500 shares of the stock in a transaction dated 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 directly owns 25,858 shares in the company, valued at approximately $1,083,450.20. This trade represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,800 shares of company stock worth $291,070 over the last quarter. 3.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NWPX. Covestor Ltd raised its holdings in shares of Northwest Pipe by 1,857.6% during the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after buying an additional 613 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Northwest Pipe in the 3rd quarter valued at approximately $67,000. Lazard Asset Management LLC bought a new stake in Northwest Pipe during the 1st quarter valued at $95,000. SG Americas Securities LLC bought a new stake in Northwest Pipe during the 3rd quarter valued at $165,000. Finally, Semanteon Capital Management LP acquired a new position in Northwest Pipe during the 3rd quarter worth $230,000. Institutional investors own 80.63% of the company’s stock.

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.