Northwest Pipe (NASDAQ:NWPX) Upgraded to “Buy” at StockNews.com

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

Several other equities research analysts also recently issued reports on the stock. Northland Securities lowered 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 Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Northwest Pipe Stock Performance

NASDAQ NWPX opened at $54.33 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27. Northwest Pipe has a 1-year low of $25.81 and a 1-year high of $55.22. The firm has a market capitalization of $538.95 million, a P/E ratio of 18.48, a P/E/G ratio of 3.21 and a beta of 0.98. The business’s 50-day simple moving average is $46.18 and its 200-day simple moving average is $40.25.

Insider Buying and Selling

In related news, 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 value of $188,550.00. Following the completion of the transaction, the executive vice president now owns 25,858 shares of the company’s stock, valued at approximately $1,083,450.20. This represents a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $42.37, for a total value of $42,370.00. Following the sale, the vice president now owns 10,725 shares in the company, valued at $454,418.25. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $275,140 in the last quarter. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Covestor Ltd raised its stake in shares of Northwest Pipe by 1,857.6% in the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 613 shares in the last quarter. Quantbot Technologies LP bought a new stake in Northwest Pipe in the third quarter valued at about $67,000. Lazard Asset Management LLC acquired a new stake in Northwest Pipe during the first quarter valued at approximately $95,000. EntryPoint Capital LLC lifted its holdings in Northwest Pipe by 120.2% during the 1st quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock worth $120,000 after buying an additional 1,890 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Northwest Pipe in the 3rd quarter worth approximately $165,000. 80.63% of the stock is currently owned by 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.