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 research report sent to investors on Sunday morning.

Several other research firms also recently weighed in on NWPX. Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Northland Securities downgraded Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.00.

Northwest Pipe Price Performance

NASDAQ NWPX opened at $53.25 on Friday. 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 firm has a market capitalization of $528.24 million, a P/E ratio of 18.11, a PEG ratio of 3.21 and a beta of 0.98. The company has a 50-day moving average price of $45.66 and a 200-day moving average price of $39.95. Northwest Pipe has a 52 week low of $25.81 and a 52 week high of $55.22.

Insider Transactions at Northwest Pipe

In other news, EVP Miles Brittain sold 4,500 shares of the company’s 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 $1,083,450.20. This represents a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $42.37, for a total value of $42,370.00. Following the sale, the vice president now directly owns 10,725 shares in the company, valued at $454,418.25. This trade represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $275,140 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

Several institutional investors and hedge funds have recently modified their holdings of NWPX. BNP Paribas Financial Markets grew its stake in Northwest Pipe by 216.4% during the first quarter. BNP Paribas Financial Markets now owns 8,705 shares of the industrial products company’s stock valued at $302,000 after acquiring an additional 5,954 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Northwest Pipe by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 17,029 shares of the industrial products company’s stock worth $591,000 after buying an additional 1,507 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Northwest Pipe by 4.2% in the first quarter. Russell Investments Group Ltd. now owns 56,226 shares of the industrial products company’s stock worth $1,950,000 after buying an additional 2,281 shares in the last quarter. Vanguard Group Inc. boosted its stake in Northwest Pipe by 1.8% during the first quarter. Vanguard Group Inc. now owns 506,110 shares of the industrial products company’s stock valued at $17,552,000 after buying an additional 8,924 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Northwest Pipe by 120.2% during the 1st quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 1,890 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.