Northwest Pipe (NASDAQ:NWPX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a research note released on Friday.

Separately, 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 report on Friday. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Northwest Pipe Stock Up 7.4 %

Shares of NASDAQ NWPX traded up $3.33 during mid-day trading on Friday, reaching $48.22. The company had a trading volume of 70,185 shares, compared to its average volume of 41,580. Northwest Pipe has a twelve month low of $25.67 and a twelve month high of $48.32. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.19 and a current ratio of 3.06. The stock has a market capitalization of $478.34 million, a PE ratio of 16.40, a price-to-earnings-growth ratio of 3.03 and a beta of 0.98. The stock’s 50 day moving average is $43.80 and its 200-day moving average is $38.40.

Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.19. The business had revenue of $129.51 million for the quarter, compared to the consensus estimate of $119.76 million. Northwest Pipe had a net margin of 6.12% and a return on equity of 8.57%. As a group, equities analysts anticipate that Northwest Pipe will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Northwest Pipe

In other news, EVP Miles Brittain sold 4,500 shares of Northwest Pipe stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $41.90, for a total transaction of $188,550.00. Following the transaction, the executive vice president now directly owns 25,858 shares of the company’s stock, valued at $1,083,450.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the sale, the vice president now owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Miles Brittain sold 4,500 shares of Northwest Pipe stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $41.90, for a total value 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,500 shares of company stock valued at $275,140. 3.30% of the stock is currently owned by insiders.

Institutional Trading of Northwest Pipe

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Northwest Pipe by 1.8% in the first quarter. Vanguard Group Inc. now owns 506,110 shares of the industrial products company’s stock valued at $17,552,000 after buying an additional 8,924 shares during the period. Foundry Partners LLC boosted its position in Northwest Pipe by 0.8% during the second quarter. Foundry Partners LLC now owns 175,945 shares of the industrial products company’s stock valued at $5,977,000 after acquiring an additional 1,340 shares during the last quarter. American Century Companies Inc. boosted its position in Northwest Pipe by 26.7% during the second quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock valued at $4,274,000 after acquiring an additional 26,532 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Northwest Pipe by 4.2% during the 1st quarter. Russell Investments Group Ltd. now owns 56,226 shares of the industrial products company’s stock worth $1,950,000 after purchasing an additional 2,281 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Northwest Pipe by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 53,509 shares of the industrial products company’s stock worth $1,818,000 after purchasing an additional 2,428 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

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.