Northwest Pipe (NASDAQ:NWPX) Price Target Raised to $55.00

Northwest Pipe (NASDAQ:NWPX) had its price target raised by Northland Securities from $50.00 to $55.00 in a report published on Friday,Benzinga reports. They currently have a market perform rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on NWPX. StockNews.com downgraded shares of Northwest Pipe from a “buy” rating to a “hold” rating in a report on Friday, December 27th. Northland Capmk cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Northwest Pipe presently has an average rating of “Hold” and an average target price of $47.50.

Northwest Pipe Stock Performance

Shares of NASDAQ NWPX opened at $47.05 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 cap of $466.69 million, a P/E ratio of 16.00, a P/E/G ratio of 3.19 and a beta of 1.05. The firm’s fifty day moving average is $52.00 and its two-hundred day moving average is $44.40. Northwest Pipe has a 52-week low of $27.89 and a 52-week high of $57.76.

Insiders Place Their Bets

In related news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction dated 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 transaction, the vice president now directly owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Northwest Pipe

A number of large investors have recently made changes to their positions in NWPX. Bank of New York Mellon Corp boosted its stake 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 during the period. Foundry Partners LLC boosted its stake in shares of Northwest Pipe by 0.8% during the 2nd 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 during the period. American Century Companies Inc. boosted its position in Northwest Pipe by 26.7% in the 2nd quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock valued at $4,274,000 after buying an additional 26,532 shares during the period. Silver Lake Advisory LLC purchased a new stake in Northwest Pipe in the 2nd quarter valued at about $743,000. Finally, SG Americas Securities LLC purchased a new stake in Northwest Pipe in the 3rd quarter valued at about $165,000. 80.63% of the stock is owned by hedge funds and other 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.