Northwest Pipe (NASDAQ:NWPX) Rating Increased to Buy at StockNews.com

Northwest Pipe (NASDAQ:NWPX) was upgraded by equities research 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 subject of a number of other reports. Northland Securities lowered Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective on the stock. in a research note on Friday, November 1st. Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Northwest Pipe Price Performance

Shares of NWPX traded down $0.39 during mid-day trading on Tuesday, reaching $56.17. 21,826 shares of the company’s stock were exchanged, compared to its average volume of 42,326. Northwest Pipe has a 52-week low of $26.91 and a 52-week high of $57.08. 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 company has a 50-day simple moving average of $48.52 and a two-hundred day simple moving average of $41.52. The company has a market cap of $557.21 million, a price-to-earnings ratio of 19.11, a PEG ratio of 3.41 and a beta of 1.02.

Insider Transactions at Northwest Pipe

In other news, EVP Miles Brittain sold 4,500 shares of the business’s stock in a transaction on 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 directly owns 25,858 shares of the company’s stock, valued at $1,083,450.20. The trade was a 14.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 in the company, valued at $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,800 shares of company stock worth $291,070 over the last quarter. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Covestor Ltd boosted its stake in shares of Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 613 shares during the period. Quantbot Technologies LP acquired a new position in Northwest Pipe in the third quarter valued at approximately $67,000. SG Americas Securities LLC acquired a new position in Northwest Pipe during the 3rd quarter valued at approximately $165,000. Semanteon Capital Management LP bought a new position in shares of Northwest Pipe during the third quarter worth about $230,000. Finally, Summit Global Investments bought a new stake in Northwest Pipe in the 3rd quarter valued at about $262,000. Hedge funds and other 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.