StockNews.com Downgrades Northwest Pipe (NASDAQ:NWPX) to Hold

Northwest Pipe (NASDAQ:NWPX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities analysts have also commented on NWPX. Northland Capmk lowered shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Northland Securities upped their price target on shares of Northwest Pipe from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.50.

Northwest Pipe Trading Up 2.7 %

Shares of NASDAQ:NWPX opened at $48.66 on Tuesday. The business’s 50-day moving average is $51.98 and its 200 day moving average is $45.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27. Northwest Pipe has a 1 year low of $27.89 and a 1 year high of $57.76. The firm has a market capitalization of $482.66 million, a P/E ratio of 16.55, a P/E/G ratio of 3.19 and a beta of 1.05.

Institutional Investors Weigh In On Northwest Pipe

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in Northwest Pipe by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 53,509 shares of the industrial products company’s stock worth $1,818,000 after buying an additional 2,428 shares during the last quarter. American Century Companies Inc. increased its stake in shares of 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 worth $4,274,000 after acquiring an additional 26,532 shares during the period. Silver Lake Advisory LLC purchased a new position in shares of Northwest Pipe during the second quarter worth $743,000. SG Americas Securities LLC acquired a new position in Northwest Pipe during the third quarter valued at $165,000. Finally, Inspire Investing LLC purchased a new stake in Northwest Pipe in the third quarter valued at $417,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

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.