Northwest Pipe (NASDAQ:NWPX – Get Rating) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 275,900 shares, an increase of 25.0% from the March 31st total of 220,800 shares. Based on an average daily trading volume, of 52,600 shares, the days-to-cover ratio is presently 5.2 days. Currently, 2.9% of the shares of the company are short sold.
Several research firms have commented on NWPX. DA Davidson reissued a “buy” rating on shares of Northwest Pipe in a research report on Thursday, March 17th. Zacks Investment Research raised shares of Northwest Pipe from a “sell” rating to a “hold” rating in a research report on Tuesday, March 22nd. StockNews.com raised shares of Northwest Pipe from a “sell” rating to a “hold” rating in a report on Saturday, March 26th. Finally, TheStreet cut shares of Northwest Pipe from a “b” rating to a “c+” rating in a report on Wednesday, March 16th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $35.50.
A number of institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new position in Northwest Pipe in the 1st quarter valued at approximately $998,000. Asset Dedication LLC purchased a new position in Northwest Pipe in the 1st quarter valued at approximately $50,000. Foundry Partners LLC grew its stake in Northwest Pipe by 6.8% in the 1st quarter. Foundry Partners LLC now owns 169,785 shares of the industrial products company’s stock valued at $4,321,000 after buying an additional 10,775 shares in the last quarter. Byrne Asset Management LLC grew its stake in Northwest Pipe by 109.8% in the 1st quarter. Byrne Asset Management LLC now owns 4,113 shares of the industrial products company’s stock valued at $105,000 after buying an additional 2,153 shares in the last quarter. Finally, Barclays PLC grew its stake in Northwest Pipe by 197.3% in the 4th quarter. Barclays PLC now owns 11,760 shares of the industrial products company’s stock valued at $374,000 after buying an additional 7,804 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.
Northwest Pipe (NASDAQ:NWPX – Get Rating) last posted its quarterly earnings results on Tuesday, March 15th. The industrial products company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. Northwest Pipe had a net margin of 3.46% and a return on equity of 5.87%. During the same period in the previous year, the firm posted $0.57 EPS. Research analysts predict that Northwest Pipe will post 2.63 earnings per share for the current year.
About Northwest Pipe (Get Rating)
Northwest Pipe Company, together with its subsidiaries, manufactures and supplies 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, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.
- Get a free copy of the StockNews.com research report on Northwest Pipe (NWPX)
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