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

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

Separately, Northland Securities cut Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Northwest Pipe Price Performance

Shares of NASDAQ NWPX opened at $47.26 on Friday. The firm’s 50-day simple moving average is $43.80 and its 200 day simple moving average is $38.49. The stock has a market cap of $468.77 million, a P/E ratio of 16.07, a P/E/G ratio of 3.04 and a beta of 0.98. Northwest Pipe has a fifty-two week low of $25.67 and a fifty-two week high of $48.80. The company has a quick ratio of 2.19, a current ratio of 3.06 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at Northwest Pipe

In other Northwest Pipe 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 transaction, the executive vice president now directly owns 25,858 shares in the company, valued at approximately $1,083,450.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Miles Brittain sold 4,500 shares of the firm’s 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 transaction, the executive vice president now directly owns 25,858 shares in the company, valued at approximately $1,083,450.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock valued at $275,140. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northwest Pipe

Several institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its stake in shares of Northwest Pipe by 3.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company’s stock valued at $819,000 after acquiring an additional 549 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Northwest Pipe by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,309 shares of the industrial products company’s stock worth $462,000 after buying an additional 598 shares in the last quarter. Covestor Ltd increased its stake in Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 613 shares during the period. Ellsworth Advisors LLC grew its stake in shares of Northwest Pipe by 4.2% in the 3rd quarter. Ellsworth Advisors LLC now owns 16,207 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 647 shares during the period. Finally, Foundry Partners LLC grew its position in Northwest Pipe by 0.8% in the second quarter. Foundry Partners LLC now owns 175,945 shares of the industrial products company’s stock valued at $5,977,000 after acquiring an additional 1,340 shares during the period. Institutional investors and hedge funds own 80.63% of the company’s stock.

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.