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

StockNews.com lowered shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a hold rating in a research note published on Friday.

Several other research firms also recently issued reports on NWPX. Northland Capmk downgraded Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Northland Securities cut shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.00.

Northwest Pipe Stock Performance

NASDAQ NWPX opened at $48.78 on Friday. The stock has a fifty day simple moving average of $51.62 and a 200-day simple moving average of $43.74. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17. The stock has a market cap of $483.85 million, a PE ratio of 16.59, a P/E/G ratio of 3.19 and a beta of 1.02. Northwest Pipe has a twelve month low of $27.89 and a twelve month 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 sale, the vice president now owns 9,725 shares in the company, valued at $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Northwest Pipe

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in Northwest Pipe by 34.2% in the third quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock valued at $2,544,000 after purchasing an additional 14,374 shares during the last quarter. Barclays PLC increased its position in shares of Northwest Pipe by 272.8% in the 3rd quarter. Barclays PLC now owns 13,001 shares of the industrial products company’s stock worth $586,000 after purchasing an additional 9,514 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Northwest Pipe by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 223,232 shares of the industrial products company’s stock valued at $10,076,000 after purchasing an additional 2,657 shares in the last quarter. Zacks Investment Management bought a new position in shares of Northwest Pipe during the third quarter worth about $1,607,000. Finally, Jane Street Group LLC acquired a new position in Northwest Pipe in the third quarter worth about $944,000. Hedge funds and other 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.