FY2024 EPS Estimates for Northwest Pipe Increased by Analyst

Northwest Pipe (NASDAQ:NWPX) – Research analysts at Northland Capmk raised their FY2024 EPS estimates for shares of Northwest Pipe in a research note issued to investors on Friday, January 3rd. Northland Capmk analyst E. Jackson now anticipates that the industrial products company will post earnings per share of $3.40 for the year, up from their prior estimate of $3.39. Northland Capmk has a “Hold” rating on the stock. The consensus estimate for Northwest Pipe’s current full-year earnings is $3.31 per share. Northland Capmk also issued estimates for Northwest Pipe’s Q4 2024 earnings at $1.00 EPS, FY2026 earnings at $3.50 EPS, FY2027 earnings at $3.40 EPS, FY2028 earnings at $3.28 EPS and FY2029 earnings at $3.00 EPS.

A number of other analysts also recently issued reports on the stock. StockNews.com raised shares of Northwest Pipe from a “hold” rating to a “buy” rating in a report on Monday. Northland Securities lifted their price objective on Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Northwest Pipe Trading Up 3.8 %

Shares of NASDAQ:NWPX opened at $48.85 on Monday. Northwest Pipe has a 1 year low of $27.89 and a 1 year high of $57.76. The stock’s fifty day moving average price is $52.08 and its 200-day moving average price is $44.51. The company has a market cap of $484.54 million, a P/E ratio of 16.62, a PEG ratio of 3.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27.

Insider Activity

In other news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe 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 transaction, the vice president now directly owns 9,725 shares of the company’s stock, valued at $430,039.50. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 613 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Northwest Pipe in the 3rd quarter worth $67,000. SG Americas Securities LLC bought a new stake in Northwest Pipe during the third quarter valued at about $165,000. Semanteon Capital Management LP purchased a new position in shares of Northwest Pipe in the third quarter valued at about $230,000. Finally, Summit Global Investments bought a new position in shares of Northwest Pipe in the third quarter worth about $262,000. Institutional investors 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.