StockNews.com Lowers Northwest Pipe (NASDAQ:NWPX) to Hold

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

Separately, Northland Securities increased their target price on shares of Northwest Pipe from $40.00 to $50.00 and gave the company an outperform rating in a report on Friday, August 2nd.

Northwest Pipe Stock Down 1.8 %

Shares of NASDAQ:NWPX opened at $43.19 on Monday. Northwest Pipe has a 52-week low of $25.67 and a 52-week high of $46.25. The company has a market capitalization of $428.23 million, a PE ratio of 18.27, a price-to-earnings-growth ratio of 2.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.19 and a current ratio of 3.06. The company has a fifty day moving average of $41.85 and a 200-day moving average of $36.84.

Northwest Pipe (NASDAQ:NWPX) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.19. Northwest Pipe had a return on equity of 7.34% and a net margin of 5.33%. The business had revenue of $129.51 million during the quarter, compared to analyst estimates of $119.76 million. On average, equities analysts predict that Northwest Pipe will post 2.96 EPS for the current fiscal year.

Insider Buying and Selling at Northwest Pipe

In related news, EVP Miles Brittain sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $41.90, for a total transaction of $188,550.00. Following the completion of the sale, the executive vice president now owns 25,858 shares in the company, valued at $1,083,450.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Miles Brittain sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total value of $188,550.00. Following the transaction, the executive vice president now owns 25,858 shares in the company, valued at $1,083,450.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 10,725 shares in the company, valued at $454,418.25. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Northwest Pipe in the third quarter valued at approximately $165,000. Silver Lake Advisory LLC bought a new stake in Northwest Pipe during the 2nd quarter valued at $743,000. American Century Companies Inc. lifted its position in shares of Northwest Pipe by 26.7% during the second quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock worth $4,274,000 after acquiring an additional 26,532 shares in the last quarter. Foundry Partners LLC boosted its holdings in shares of Northwest Pipe by 0.8% in the second quarter. Foundry Partners LLC now owns 175,945 shares of the industrial products company’s stock worth $5,977,000 after acquiring an additional 1,340 shares during the period. Finally, Verus Capital Partners LLC grew its position in shares of Northwest Pipe by 58.8% in the second quarter. Verus Capital Partners LLC now owns 16,500 shares of the industrial products company’s stock valued at $561,000 after purchasing an additional 6,110 shares in the last quarter. 80.63% of the stock is owned by hedge funds and other institutional investors.

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.