Northwest Pipe (NASDAQ:NWPX) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a strong-buy rating in a research note released on Friday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. Northland Securities started coverage on shares of Northwest Pipe in a research note on Thursday, September 26th. They set an outperform rating and a $35.00 price target on the stock. Zacks Investment Research upgraded shares of Northwest Pipe from a hold rating to a buy rating and set a $34.00 price objective for the company in a research report on Saturday, November 2nd. Finally, ValuEngine cut shares of Northwest Pipe from a hold rating to a sell rating in a research note on Tuesday, December 3rd.

NASDAQ:NWPX opened at $34.27 on Friday. The company has a market cap of $334.03 million, a price-to-earnings ratio of -190.39 and a beta of 0.83. Northwest Pipe has a 1 year low of $18.04 and a 1 year high of $34.70. The stock’s 50 day simple moving average is $32.03 and its two-hundred day simple moving average is $27.00.

Northwest Pipe (NASDAQ:NWPX) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.41. Northwest Pipe had a return on equity of 7.46% and a net margin of 6.06%. The firm had revenue of $75.23 million during the quarter, compared to the consensus estimate of $70.00 million. On average, equities research analysts expect that Northwest Pipe will post 2.24 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC increased its stake in Northwest Pipe by 0.4% during the second quarter. Pacific Ridge Capital Partners LLC now owns 253,582 shares of the industrial products company’s stock worth $6,537,000 after acquiring an additional 898 shares during the last quarter. State Street Corp lifted its stake in shares of Northwest Pipe by 1.6% in the 3rd quarter. State Street Corp now owns 246,130 shares of the industrial products company’s stock valued at $6,929,000 after purchasing an additional 3,938 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Northwest Pipe by 3.0% in the 2nd quarter. Northern Trust Corp now owns 145,222 shares of the industrial products company’s stock worth $3,744,000 after purchasing an additional 4,201 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Northwest Pipe by 0.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 78,098 shares of the industrial products company’s stock worth $2,013,000 after purchasing an additional 500 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Northwest Pipe by 93.4% in the 2nd quarter. First Trust Advisors LP now owns 32,849 shares of the industrial products company’s stock worth $847,000 after purchasing an additional 15,862 shares during the period. Institutional investors own 75.65% of the company’s stock.

Northwest Pipe Company Profile

Northwest Pipe Company manufactures engineered welded steel pipe water systems in North America. It produces large-diameter, high-pressure, and engineered welded steel pipeline systems for use in drinking water infrastructure; and pipes for piling and hydroelectric projects, water and wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.

Featured Story: Why is the conference call important?

Receive News & Ratings for Northwest Pipe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Pipe and related companies with MarketBeat.com's FREE daily email newsletter.