Northland Securities Boosts Northwest Pipe (NASDAQ:NWPX) Price Target to $50.00

Northwest Pipe (NASDAQ:NWPX) had its price objective lifted by Northland Securities from $40.00 to $50.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Separately, StockNews.com cut Northwest Pipe from a buy rating to a hold rating in a report on Friday, May 3rd.

Northwest Pipe Stock Performance

Shares of NASDAQ NWPX traded up $0.63 during midday trading on Friday, hitting $39.67. 23,917 shares of the company’s stock were exchanged, compared to its average volume of 41,949. Northwest Pipe has a twelve month low of $25.67 and a twelve month high of $40.00. The firm has a market cap of $393.33 million, a P/E ratio of 16.39, a PEG ratio of 2.95 and a beta of 0.98. The stock’s 50 day moving average price is $34.80 and its 200-day moving average price is $33.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.56 and a quick ratio of 2.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NWPX. Lazard Asset Management LLC acquired a new position in Northwest Pipe in the 1st quarter worth approximately $95,000. Byrne Asset Management LLC grew its stake in Northwest Pipe by 17.3% during the 4th quarter. Byrne Asset Management LLC now owns 2,850 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 420 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Northwest Pipe by 48.9% in the 4th quarter. Global Retirement Partners LLC now owns 3,110 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 1,022 shares during the period. EntryPoint Capital LLC lifted its position in shares of Northwest Pipe by 120.2% in the first quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,890 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Northwest Pipe by 20.4% during the fourth quarter. SG Americas Securities LLC now owns 5,378 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 912 shares during the period. Institutional investors 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.