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

StockNews.com lowered shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a hold rating in a research report report published on Friday morning.

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

Northwest Pipe Trading Down 2.1 %

Shares of Northwest Pipe stock opened at $48.78 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. The company has a market capitalization of $483.85 million, a P/E ratio of 16.59, a PEG ratio of 3.19 and a beta of 1.02. Northwest Pipe has a 1 year low of $27.89 and a 1 year high of $57.76. The company’s fifty day moving average is $51.62 and its two-hundred day moving average is $43.81.

Insider Buying and Selling at Northwest Pipe

In other news, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction on 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 directly owns 9,725 shares in the company, valued at $430,039.50. This represents 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 through the SEC website. 3.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northwest Pipe

Several institutional investors and hedge funds have recently modified their holdings of NWPX. Janney Montgomery Scott LLC grew its holdings in Northwest Pipe by 3.1% in the third quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company’s stock valued at $819,000 after purchasing an additional 549 shares during the period. Covestor Ltd lifted 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 valued at $29,000 after acquiring an additional 613 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in Northwest Pipe by 4.2% in the 3rd quarter. Ellsworth Advisors LLC now owns 16,207 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 647 shares in the last quarter. Stifel Financial Corp raised its position in Northwest Pipe by 6.2% in the third quarter. Stifel Financial Corp now owns 13,202 shares of the industrial products company’s stock valued at $596,000 after purchasing an additional 766 shares during the period. Finally, Foundry Partners LLC lifted its stake in shares of Northwest Pipe by 0.8% during the second quarter. Foundry Partners LLC now owns 175,945 shares of the industrial products company’s stock worth $5,977,000 after purchasing an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors 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.