Northwest Pipe (NASDAQ:NWPX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a report published on Tuesday.

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

Northwest Pipe Price Performance

Northwest Pipe stock opened at $56.17 on Tuesday. The stock has a market cap of $557.21 million, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 3.41 and a beta of 1.02. The company has a fifty day simple moving average of $48.52 and a 200-day simple moving average of $41.52. Northwest Pipe has a 12-month low of $26.91 and a 12-month high of $57.08. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17.

Insider Activity at Northwest Pipe

In related news, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total value of $44,220.00. Following the completion of the sale, the vice president now directly owns 9,725 shares of the company’s stock, valued at $430,039.50. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 2,300 shares of company stock valued at $102,520 over the last ninety days. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd lifted its position in Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 613 shares during the last quarter. Quantbot Technologies LP acquired a new position in Northwest Pipe in the third quarter valued at $67,000. SG Americas Securities LLC acquired a new position in shares of Northwest Pipe during the third quarter worth about $165,000. Semanteon Capital Management LP acquired a new position in shares of Northwest Pipe during the third quarter worth about $230,000. Finally, Summit Global Investments acquired a new position in shares of Northwest Pipe during the third quarter worth about $262,000. 80.63% of the stock is owned by hedge funds and other institutional investors.

Northwest Pipe Company Profile

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.