Northwest Pipe (NASDAQ:NWPX) Rating Lowered to Hold at Northland Capmk

Northwest Pipe (NASDAQ:NWPX) was downgraded by analysts at Northland Capmk from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports. Northland Capmk also issued estimates for Northwest Pipe’s FY2024 earnings at $3.39 EPS.

NWPX has been the topic of a number of other reports. Northland Securities downgraded shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research report on Friday. StockNews.com raised shares of Northwest Pipe from a “hold” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Northwest Pipe Stock Up 7.4 %

Shares of Northwest Pipe stock opened at $48.22 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.19 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $43.80 and its two-hundred day simple moving average is $38.40. The company has a market cap of $478.34 million, a P/E ratio of 16.40, a PEG ratio of 3.03 and a beta of 0.98. Northwest Pipe has a 12-month low of $25.67 and a 12-month high of $48.32.

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

Insider Activity at Northwest Pipe

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

Hedge Funds Weigh In On Northwest Pipe

Several institutional investors have recently made changes to their positions in NWPX. Covestor Ltd lifted its stake in shares of Northwest Pipe by 1,857.6% in the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 613 shares during the period. Lazard Asset Management LLC bought a new position in shares of Northwest Pipe in the 1st quarter worth approximately $95,000. EntryPoint Capital LLC lifted its stake in shares of Northwest Pipe by 120.2% in the 1st 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 during the period. SG Americas Securities LLC bought a new position in shares of Northwest Pipe in the 3rd quarter worth approximately $165,000. Finally, Semanteon Capital Management LP bought a new position in shares of Northwest Pipe in the 3rd quarter worth approximately $230,000. Institutional investors own 80.63% of the company’s stock.

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.