Northwest Pipe (NASDAQ:NWPX) Sees Large Volume Increase on Analyst Upgrade

Northwest Pipe (NASDAQ:NWPX) shares saw unusually-strong trading volume on Monday after Northland Securities raised their price target on the stock from $50.00 to $55.00. Northland Securities currently has a market perform rating on the stock. Approximately 102,936 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 94,729 shares.The stock last traded at $50.77 and had previously closed at $47.05.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Northwest Pipe from a “buy” rating to a “hold” rating in a report on Friday, December 27th. Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Northwest Pipe presently has an average rating of “Hold” and an average target price of $47.50.

Insider Transactions at Northwest Pipe

In related news, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. This represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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 NWPX. JPMorgan Chase & Co. grew its stake in shares of Northwest Pipe by 34.2% in the third quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock valued at $2,544,000 after buying an additional 14,374 shares in the last quarter. Barclays PLC raised its stake in shares of Northwest Pipe by 272.8% during the third quarter. Barclays PLC now owns 13,001 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 9,514 shares during the period. Geode Capital Management LLC lifted its position in shares of Northwest Pipe by 1.2% during the third quarter. Geode Capital Management LLC now owns 223,232 shares of the industrial products company’s stock worth $10,076,000 after purchasing an additional 2,657 shares in the last quarter. Zacks Investment Management purchased a new position in shares of Northwest Pipe in the third quarter valued at $1,607,000. Finally, Jane Street Group LLC acquired a new stake in Northwest Pipe during the 3rd quarter valued at $944,000. 80.63% of the stock is owned by hedge funds and other institutional investors.

Northwest Pipe Price Performance

The company’s 50 day moving average is $52.00 and its 200-day moving average is $44.40. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17. The stock has a market cap of $506.46 million, a PE ratio of 17.37, a P/E/G ratio of 3.19 and a beta of 1.05.

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.