Northwest Pipe (NASDAQ:NWPX) Downgraded by Northland Securities to Market Perform

Northland Securities downgraded shares of Northwest Pipe (NASDAQ:NWPX) from an outperform rating to a market perform rating in a report published on Friday, MarketBeat Ratings reports. The firm currently has $50.00 price target on the industrial products company’s stock.

Separately, StockNews.com cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Northwest Pipe Trading Up 7.4 %

Shares of NWPX stock traded up $3.33 on Friday, hitting $48.22. The stock had a trading volume of 70,185 shares, compared to its average volume of 41,580. The company’s 50 day moving average price is $43.80 and its 200-day moving average price is $38.40. Northwest Pipe has a 1 year low of $25.67 and a 1 year high of $48.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.06 and a quick ratio of 2.19. The firm has a market capitalization of $478.34 million, a P/E ratio of 16.40, a P/E/G ratio of 3.03 and a beta of 0.98.

Northwest Pipe (NASDAQ:NWPX) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.19. The company had revenue of $129.51 million during the quarter, compared to the consensus estimate of $119.76 million. Northwest Pipe had a return on equity of 8.57% and a net margin of 6.12%. Analysts anticipate that Northwest Pipe will post 2.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 10,725 shares of the company’s stock, valued at $454,418.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Miles Brittain sold 4,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total transaction of $188,550.00. Following the completion of the transaction, the executive vice president now directly owns 25,858 shares of the company’s stock, valued at approximately $1,083,450.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $42.37, for a total value of $42,370.00. Following the sale, the vice president now directly owns 10,725 shares in the company, valued at $454,418.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $275,140 in the last quarter. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northwest Pipe

Hedge funds have recently added to or reduced their stakes in the stock. Ellsworth Advisors LLC purchased a new stake in shares of Northwest Pipe during the 2nd quarter worth approximately $529,000. Silver Lake Advisory LLC acquired a new stake in Northwest Pipe during the 2nd quarter worth $743,000. American Century Companies Inc. lifted its position in Northwest Pipe by 26.7% in the second quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock valued at $4,274,000 after acquiring an additional 26,532 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Northwest Pipe by 7.5% in the third quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock valued at $2,396,000 after acquiring an additional 3,718 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Northwest Pipe by 4.2% during the first quarter. Russell Investments Group Ltd. now owns 56,226 shares of the industrial products company’s stock worth $1,950,000 after purchasing an additional 2,281 shares during the last quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Pipe Company Profile

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.