Northwest Pipe (NASDAQ:NWPX) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a hold rating in a report released on Friday.

Several other analysts also recently weighed in on the stock. 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 shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price target on the stock. in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.00.

Northwest Pipe Stock Down 2.1 %

Shares of Northwest Pipe stock opened at $48.78 on Friday. The company has a market cap of $483.85 million, a P/E ratio of 16.59, a PEG ratio of 3.19 and a beta of 1.02. Northwest Pipe has a 52-week low of $27.89 and a 52-week high of $57.76. 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’s 50 day moving average price is $51.62 and its 200-day moving average price is $43.81.

Insider Activity

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

Hedge Funds Weigh In On Northwest Pipe

Institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd grew its holdings in Northwest Pipe by 1,857.6% in the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after buying an additional 613 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Northwest Pipe in the third quarter valued at $67,000. SG Americas Securities LLC acquired a new position in shares of Northwest Pipe in the 3rd quarter valued at $165,000. Semanteon Capital Management LP purchased a new position in shares of Northwest Pipe during the 3rd quarter worth $230,000. Finally, Summit Global Investments purchased a new stake in Northwest Pipe in the 3rd quarter valued at about $262,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

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.