Northwest Pipe (NASDAQ:NWPX) Upgraded to Buy at StockNews.com

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

A number of other analysts also recently weighed in on the stock. Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Northland Securities increased their price target on Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Northwest Pipe Stock Performance

Shares of NASDAQ:NWPX opened at $46.76 on Monday. The business has a 50-day moving average of $52.11 and a two-hundred day moving average of $44.60. Northwest Pipe has a 12 month low of $27.89 and a 12 month high of $57.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27. The firm has a market capitalization of $463.81 million, a PE ratio of 15.90, a P/E/G ratio of 3.19 and a beta of 1.05.

Insider Buying and Selling

In related news, VP Megan A. Kendrick sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of the sale, the vice president now directly owns 9,725 shares of the company’s stock, valued at $430,039.50. This 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 at the SEC website. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northwest Pipe

A number of institutional investors and hedge funds have recently modified their holdings of NWPX. Covestor Ltd increased its holdings 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 valued at $29,000 after purchasing an additional 613 shares during the period. Quantbot Technologies LP acquired a new position in Northwest Pipe in the 3rd quarter worth about $67,000. SG Americas Securities LLC purchased a new stake in shares of Northwest Pipe during the 3rd quarter worth about $165,000. Semanteon Capital Management LP purchased a new stake in shares of Northwest Pipe during the 3rd quarter worth about $230,000. Finally, Summit Global Investments acquired a new stake in shares of Northwest Pipe during the 3rd quarter valued at about $262,000. 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.