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 Thursday morning.

A number of other equities research analysts have also recently issued reports on NWPX. Northland Capmk cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research 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 for the company. in a report on Friday, November 1st. Two equities research 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 has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Northwest Pipe Stock Down 1.6 %

Shares of NWPX opened at $49.09 on Thursday. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $51.09 and a two-hundred day moving average price of $43.10. The stock has a market cap of $486.92 million, a price-to-earnings ratio of 16.70, a P/E/G ratio of 3.19 and a beta of 1.02. Northwest Pipe has a 12 month low of $27.89 and a 12 month high of $57.76.

Insider Buying and Selling

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 completion of the sale, the vice president now directly owns 9,725 shares in the company, valued at $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Barclays PLC raised its stake in shares of Northwest Pipe by 272.8% during the third quarter. Barclays PLC now owns 13,001 shares of the industrial products company’s stock worth $586,000 after buying an additional 9,514 shares during the last quarter. Geode Capital Management LLC grew its holdings in Northwest Pipe by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 223,232 shares of the industrial products company’s stock worth $10,076,000 after acquiring an additional 2,657 shares during the period. Zacks Investment Management bought a new stake in Northwest Pipe in the third quarter valued at about $1,607,000. Jane Street Group LLC acquired a new position in Northwest Pipe in the third quarter valued at about $944,000. Finally, Stifel Financial Corp boosted its holdings in Northwest Pipe by 6.2% during the third quarter. Stifel Financial Corp now owns 13,202 shares of the industrial products company’s stock worth $596,000 after buying an additional 766 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.

About Northwest Pipe

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.