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

Northwest Pipe (NASDAQ:NWPX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other analysts have also recently commented on NWPX. Northland Capmk cut Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Northland Securities lowered 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. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.00.

Northwest Pipe Price Performance

Shares of NWPX traded down $0.78 on Thursday, hitting $49.09. The company’s stock had a trading volume of 54,705 shares, compared to its average volume of 42,825. The company has a 50 day moving average price of $51.09 and a 200 day moving average price of $43.10. Northwest Pipe has a fifty-two week low of $27.89 and a fifty-two week high of $57.76. The company has a market capitalization of $486.92 million, a PE ratio of 16.70, a PEG ratio of 3.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27.

Insider Transactions at Northwest Pipe

In other news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred on 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 sale, the vice president now owns 9,725 shares in the company, valued at $430,039.50. The trade was a 9.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northwest Pipe

A number of hedge funds and other institutional investors have recently bought and sold shares of NWPX. Assenagon Asset Management S.A. increased its stake in shares of Northwest Pipe by 7.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock valued at $2,396,000 after acquiring an additional 3,718 shares during the last quarter. American Century Companies Inc. increased its stake in Northwest Pipe by 26.7% in 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 purchasing an additional 26,532 shares in the last quarter. Silver Lake Advisory LLC acquired a new stake in Northwest Pipe in the second quarter worth $743,000. Bank of New York Mellon Corp boosted its position in shares of Northwest Pipe by 4.8% during the second 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. Finally, Victory Capital Management Inc. boosted its position in shares of Northwest Pipe by 19.4% during the third quarter. Victory Capital Management Inc. now owns 52,686 shares of the industrial products company’s stock worth $2,378,000 after purchasing an additional 8,576 shares in the last quarter. 80.63% of the stock is 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.