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

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

NWPX has been the subject of several other reports. StockNews.com raised Northwest Pipe from a “hold” rating to a “buy” rating in a report on Friday. Northland Securities cut 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. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Northwest Pipe Trading Up 7.4 %

Shares of Northwest Pipe stock opened at $48.22 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.19 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $43.80 and a 200-day simple moving average of $38.40. The stock has a market cap of $478.34 million, a price-to-earnings ratio of 16.40, a PEG ratio of 3.04 and a beta of 0.98. Northwest Pipe has a 12-month low of $25.67 and a 12-month high of $48.32.

Northwest Pipe (NASDAQ:NWPX) last released its quarterly earnings data 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. The company had revenue of $129.51 million during the quarter, compared to the consensus estimate of $119.76 million. Northwest Pipe had a net margin of 6.12% and a return on equity of 8.57%. On average, equities analysts forecast that Northwest Pipe will post 2.96 EPS for the current fiscal year.

Insider Activity

In other Northwest Pipe news, EVP Miles Brittain sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total transaction of $188,550.00. Following the completion of the sale, the executive vice president now directly owns 25,858 shares of the company’s stock, valued at $1,083,450.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Miles Brittain sold 4,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 25,858 shares in the company, valued at $1,083,450.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total value of $44,220.00. Following the completion of the sale, the vice president now directly owns 9,725 shares in the company, valued at $430,039.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,500 shares of company stock valued at $275,140. Insiders own 3.30% of the company’s stock.

Institutional Trading of Northwest Pipe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its stake 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 worth $819,000 after buying an additional 549 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 during the period. Covestor Ltd boosted its holdings in shares of 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. Ellsworth Advisors LLC grew its holdings in shares of Northwest Pipe by 4.2% during the 3rd quarter. Ellsworth Advisors LLC now owns 16,207 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 647 shares during the period. Finally, Foundry Partners LLC lifted its holdings in shares of Northwest Pipe by 0.8% during the 2nd 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 in the last quarter. 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.