Northwest Pipe (NASDAQ:NWPX) Downgraded to “Hold” Rating by StockNews.com

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

NWPX has been the subject of several other research reports. Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Northland Securities cut shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

Northwest Pipe Trading Down 2.1 %

Shares of NASDAQ:NWPX opened at $48.78 on Friday. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $51.62 and its 200 day moving average price is $43.74. The company has a market cap of $483.85 million, a PE ratio of 16.59, a P/E/G ratio of 3.19 and a beta of 1.02. Northwest Pipe has a fifty-two week low of $27.89 and a fifty-two week high of $57.76.

Insider Activity

In related news, VP Megan A. Kendrick sold 1,000 shares of the business’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 transaction, the vice president now owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings 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 buying an additional 613 shares during the period. Quantbot Technologies LP bought a new position in shares of Northwest Pipe in the 3rd quarter worth $67,000. SG Americas Securities LLC acquired a new stake in shares of Northwest Pipe during the third quarter worth $165,000. Semanteon Capital Management LP bought a new stake in Northwest Pipe in the third quarter valued at about $230,000. Finally, Summit Global Investments acquired a new position in Northwest Pipe in the third quarter valued at about $262,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

Northwest Pipe Company Profile

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.