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

Northwest Pipe (NASDAQ:NWPX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other equities research analysts have also recently issued reports about the stock. Northland Securities cut shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a report on Friday, November 1st. Northland Capmk lowered Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Northwest Pipe Stock Performance

Shares of Northwest Pipe stock traded down $0.78 on Thursday, reaching $49.09. The stock had a trading volume of 54,705 shares, compared to its average volume of 42,825. 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 business’s 50-day moving average price is $51.09 and its two-hundred day moving average price is $43.10. The stock has a market cap of $486.92 million, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 3.19 and a beta of 1.02. Northwest Pipe has a fifty-two week low of $27.89 and a fifty-two week high of $57.76.

Insider Activity

In related news, VP Megan A. Kendrick sold 1,000 shares of the company’s 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 in the company, valued at approximately $430,039.50. This represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northwest Pipe

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in Northwest Pipe by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 53,509 shares of the industrial products company’s stock valued at $1,818,000 after acquiring an additional 2,428 shares during the period. Verus Capital Partners LLC raised its holdings in shares of Northwest Pipe by 58.8% in the 2nd quarter. Verus Capital Partners LLC now owns 16,500 shares of the industrial products company’s stock worth $561,000 after buying an additional 6,110 shares in the last quarter. Foundry Partners LLC lifted its position 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 buying an additional 1,340 shares during the period. American Century Companies Inc. boosted its stake 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 in the last quarter. Finally, Silver Lake Advisory LLC bought a new stake in Northwest Pipe in the second quarter valued at $743,000. 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.