Northwest Pipe FY2024 EPS Forecast Lifted by Northland Capmk

Northwest Pipe (NASDAQ:NWPX) – Equities research analysts at Northland Capmk boosted their FY2024 earnings per share (EPS) estimates for shares of Northwest Pipe in a research note issued to investors on Friday, November 1st. Northland Capmk analyst E. Jackson now anticipates that the industrial products company will post earnings of $3.39 per share for the year, up from their previous forecast of $3.13. Northland Capmk has a “Hold” rating on the stock. The consensus estimate for Northwest Pipe’s current full-year earnings is $2.96 per share.

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

Northwest Pipe Price Performance

Shares of NWPX opened at $47.26 on Monday. The firm has a market capitalization of $468.77 million, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 3.04 and a beta of 0.98. The stock’s fifty day moving average is $43.80 and its 200-day moving average is $38.49. Northwest Pipe has a one year low of $25.67 and a one year high of $48.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.19 and a current ratio of 3.06.

Hedge Funds Weigh In On Northwest Pipe

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its stake in Northwest Pipe by 1,857.6% during the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after buying an additional 613 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Northwest Pipe during the 1st quarter worth approximately $95,000. EntryPoint Capital LLC raised its stake in Northwest Pipe by 120.2% during the 1st quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,890 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Northwest Pipe in the third quarter valued at $165,000. Finally, Semanteon Capital Management LP acquired a new stake in shares of Northwest Pipe in the third quarter worth $230,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

Insiders Place Their Bets

In other news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $42.37, for a total value of $42,370.00. Following the transaction, the vice president now owns 10,725 shares of the company’s stock, valued at $454,418.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $42.37, for a total value of $42,370.00. Following the transaction, the vice president now owns 10,725 shares in the company, valued at approximately $454,418.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Miles Brittain sold 4,500 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 25,858 shares in the company, valued at $1,083,450.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,500 shares of company stock worth $275,140. 3.30% of the stock is owned by corporate insiders.

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.