Northwest Pipe (NASDAQ:NWPX) Upgraded by StockNews.com to Buy Rating

Northwest Pipe (NASDAQ:NWPX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

NWPX has been the topic of several other reports. Northland Securities cut 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 research report on Friday, November 1st. Northland Capmk lowered shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research 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’s stock. Based on data from MarketBeat, Northwest Pipe presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Northwest Pipe Price Performance

NASDAQ:NWPX traded down $0.39 during trading hours on Tuesday, reaching $56.17. 21,826 shares of the company’s stock were exchanged, compared to its average volume of 42,326. The company has a market capitalization of $557.21 million, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 3.41 and a beta of 1.02. 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 business’s 50-day simple moving average is $48.52 and its two-hundred day simple moving average is $41.52. Northwest Pipe has a 12 month low of $26.91 and a 12 month high of $57.08.

Insiders Place Their Bets

In other Northwest Pipe news, EVP Miles Brittain sold 4,500 shares of the business’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 sale, the executive vice president now owns 25,858 shares of the company’s stock, valued at $1,083,450.20. The trade was a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the sale, the vice president now directly owns 9,725 shares of the company’s stock, valued at $430,039.50. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,800 shares of company stock valued at $291,070 in the last three months. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Zacks Investment Management bought a new stake in Northwest Pipe in the 3rd quarter valued at $1,607,000. American Century Companies Inc. lifted its stake in shares of 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 buying an additional 26,532 shares during the period. Silver Lake Advisory LLC bought a new position in Northwest Pipe during the second quarter valued at about $743,000. Jane Street Group LLC acquired a new position in Northwest Pipe in the 3rd quarter valued at approximately $944,000. Finally, Ellsworth Advisors LLC bought a new stake in shares of Northwest Pipe in the 2nd quarter worth approximately $529,000. Institutional investors and hedge funds 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.