Northwest Pipe (NASDAQ:NWPX) Rating Lowered to Hold at StockNews.com

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

Other research analysts also recently issued reports about the company. TheStreet upgraded Northwest Pipe from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. DA Davidson boosted their price target on Northwest Pipe from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th.

Northwest Pipe Stock Up 1.3 %

NASDAQ:NWPX opened at $32.72 on Friday. The company’s 50-day simple moving average is $32.80 and its 200-day simple moving average is $29.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.88 and a current ratio of 2.83. Northwest Pipe has a fifty-two week low of $25.58 and a fifty-two week high of $35.32. The stock has a market capitalization of $324.58 million, a P/E ratio of 13.75, a P/E/G ratio of 2.83 and a beta of 0.97.

Northwest Pipe (NASDAQ:NWPX) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.18. The company had revenue of $113.22 million during the quarter, compared to the consensus estimate of $103.20 million. Northwest Pipe had a net margin of 5.22% and a return on equity of 7.16%. During the same period last year, the firm earned $0.23 earnings per share. On average, equities analysts anticipate that Northwest Pipe will post 2.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Northwest Pipe by 9.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 414,624 shares of the industrial products company’s stock worth $12,509,000 after buying an additional 35,997 shares during the last quarter. Verus Capital Partners LLC boosted its holdings in Northwest Pipe by 7.6% in the third quarter. Verus Capital Partners LLC now owns 11,290 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 800 shares during the last quarter. Barclays PLC grew its position in Northwest Pipe by 35.2% during the 3rd quarter. Barclays PLC now owns 2,657 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 692 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Northwest Pipe during the 3rd quarter valued at about $420,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Northwest Pipe by 6.8% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 7,188 shares of the industrial products company’s stock valued at $217,000 after buying an additional 457 shares during the period. 80.63% of the stock is owned by institutional investors and hedge funds.

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.