StockNews.com Upgrades Northwest Pipe (NASDAQ:NWPX) to Buy

Northwest Pipe (NASDAQ:NWPX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Several other analysts also recently commented on the stock. Northland Securities upped their price target on shares of Northwest Pipe from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Northland Capmk cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Two 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Northwest Pipe Trading Down 4.3 %

NASDAQ:NWPX opened at $46.76 on Monday. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. Northwest Pipe has a 52-week low of $27.89 and a 52-week high of $57.76. The stock’s 50 day moving average price is $52.11 and its 200 day moving average price is $44.60. The company has a market capitalization of $463.81 million, a PE ratio of 15.90, a P/E/G ratio of 3.19 and a beta of 1.05.

Insider Activity at Northwest Pipe

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by insiders.

Institutional Trading of Northwest Pipe

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Northwest Pipe by 1.2% in the third quarter. Geode Capital Management LLC now owns 223,232 shares of the industrial products company’s stock worth $10,076,000 after acquiring an additional 2,657 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Northwest Pipe by 26.7% during the 2nd quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock worth $4,274,000 after purchasing an additional 26,532 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Northwest Pipe by 34.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock valued at $2,544,000 after purchasing an additional 14,374 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Northwest Pipe by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 53,509 shares of the industrial products company’s stock valued at $1,818,000 after purchasing an additional 2,428 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Northwest Pipe by 7.5% during the third quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock worth $2,396,000 after buying an additional 3,718 shares in the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.

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.