Northwest Pipe (NASDAQ:NWPX) Stock Rating Lowered by Northland Capmk

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

Several other research firms have also commented on NWPX. Northland Securities lowered 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 research note on Friday. StockNews.com raised Northwest Pipe from a “hold” rating to a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northwest Pipe currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Northwest Pipe Stock Performance

NWPX stock opened at $48.22 on Friday. Northwest Pipe has a 1-year low of $25.67 and a 1-year high of $48.32. The business has a 50-day moving average price of $43.80 and a 200 day moving average price of $38.40. The company has a market capitalization of $478.34 million, a P/E ratio of 16.40, a PEG ratio of 3.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.06 and a quick ratio of 2.19.

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

Insider Activity

In other news, EVP Miles Brittain sold 4,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total value of $188,550.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Miles Brittain sold 4,500 shares of Northwest Pipe stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $41.90, for a total transaction of $188,550.00. Following the completion of the transaction, the executive vice president now directly owns 25,858 shares of the company’s stock, valued at $1,083,450.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Megan A. Kendrick sold 1,000 shares of the 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 directly owns 9,725 shares in the company, valued at $430,039.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,500 shares of company stock valued at $275,140. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Northwest Pipe

A number of institutional investors and hedge funds have recently made changes to their positions in NWPX. Covestor Ltd raised its stake in 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 last quarter. Summit Global Investments acquired a new stake in shares of Northwest Pipe during the 3rd quarter worth approximately $262,000. Janney Montgomery Scott LLC raised its position in shares of Northwest Pipe by 3.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company’s stock valued at $819,000 after buying an additional 549 shares during the period. Semanteon Capital Management LP purchased a new stake in Northwest Pipe in the third quarter valued at $230,000. Finally, Assenagon Asset Management S.A. raised its holdings in Northwest Pipe by 7.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock valued at $2,396,000 after buying an additional 3,718 shares during the period. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

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.