Northwest Pipe (NWPX) Given Average Recommendation of “Strong Buy” by Brokerages

Shares of Northwest Pipe (NASDAQ:NWPX) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a 1 year consensus price objective of $26.00 for the company and are forecasting that the company will post ($0.15) EPS for the current quarter, according to Zacks. Zacks has also assigned Northwest Pipe an industry rank of 208 out of 265 based on the ratings given to related companies.

NWPX has been the subject of a number of research reports. Zacks Investment Research cut Northwest Pipe from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. ValuEngine upgraded Northwest Pipe from a “sell” rating to a “hold” rating in a research note on Saturday, March 10th. Finally, DA Davidson reiterated a “buy” rating on shares of Northwest Pipe in a research note on Friday, March 2nd.

A number of hedge funds and other institutional investors have recently modified their holdings of NWPX. State Street Corp purchased a new stake in Northwest Pipe in the second quarter valued at approximately $1,582,000. Royce & Associates LP lifted its stake in Northwest Pipe by 4.9% in the third quarter. Royce & Associates LP now owns 1,253,900 shares of the industrial products company’s stock valued at $23,849,000 after buying an additional 59,000 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Northwest Pipe in the fourth quarter valued at approximately $459,000. National Investment Services Inc. WI purchased a new stake in shares of Northwest Pipe during the fourth quarter worth approximately $447,000. Finally, AlphaOne Investment Services LLC raised its stake in shares of Northwest Pipe by 13.4% during the fourth quarter. AlphaOne Investment Services LLC now owns 186,050 shares of the industrial products company’s stock worth $3,561,000 after purchasing an additional 22,050 shares during the last quarter. Institutional investors own 84.57% of the company’s stock.

Shares of NWPX opened at $19.60 on Monday. Northwest Pipe has a 52-week low of $12.41 and a 52-week high of $21.36.

Northwest Pipe (NASDAQ:NWPX) last issued its quarterly earnings data on Wednesday, February 28th. The industrial products company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.09. Northwest Pipe had a negative return on equity of 3.52% and a negative net margin of 7.65%. The company had revenue of $35.63 million during the quarter, compared to analysts’ expectations of $39.00 million. sell-side analysts predict that Northwest Pipe will post 0.28 EPS for the current fiscal year.

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Northwest Pipe Company Profile

Northwest Pipe Company is a manufacturer of engineered steel pipe water systems. The Company produces steel pipeline systems for use in drinking water infrastructure, and has approximately eight manufacturing facilities, located in Portland, Oregon; Denver, Colorado; Adelanto, California; Parkersburg, West Virginia; Saginaw, Texas; St.

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