Northwest Pipe (NASDAQ:NWPX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a report published on Monday.

A number of other brokerages have also recently issued reports on NWPX. Northland Capmk cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Northland Securities upped their target price on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Northwest Pipe Stock Up 3.8 %

Shares of NASDAQ:NWPX opened at $48.85 on Monday. Northwest Pipe has a 12-month low of $27.89 and a 12-month high of $57.76. The stock has a market capitalization of $484.54 million, a price-to-earnings ratio of 16.62, a PEG ratio of 3.19 and a beta of 1.05. The stock has a fifty day simple moving average of $52.08 and a two-hundred day simple moving average of $44.51. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17.

Insider Activity

In other news, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

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