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

StockNews.com upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a report published on Monday morning.

NWPX has been the subject of a number of other research reports. Northland Securities upped their price objective on Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Northland Capmk lowered shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Northwest Pipe Stock Down 1.6 %

NWPX opened at $46.01 on Monday. The stock has a market cap of $456.37 million, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 3.19 and a beta of 1.05. 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 firm’s fifty day moving average is $52.13 and its 200 day moving average is $44.61. Northwest Pipe has a fifty-two week low of $27.89 and a fifty-two week high of $57.76.

Insider Buying and Selling

In other news, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total transaction of $44,220.00. Following the transaction, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of Northwest Pipe by 4.8% during 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 purchasing an additional 2,428 shares in the last quarter. American Century Companies Inc. boosted its position in Northwest Pipe by 26.7% during 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 acquiring an additional 26,532 shares in the last quarter. Silver Lake Advisory LLC bought a new stake in Northwest Pipe during the 2nd quarter valued at $743,000. SG Americas Securities LLC purchased a new position in shares of Northwest Pipe in the 3rd quarter valued at $165,000. Finally, Inspire Investing LLC bought a new position in shares of Northwest Pipe in the 3rd quarter worth $417,000. 80.63% of the stock is currently owned by institutional investors.

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.