Northwest Pipe (NASDAQ:NWPX) Rating Lowered to Hold at Northland Capmk

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

Several other equities analysts also recently weighed in on NWPX. Northland Securities downgraded shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a research note on Friday. StockNews.com raised shares of Northwest Pipe from a “hold” rating to a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Northwest Pipe Price Performance

NWPX opened at $48.22 on Friday. The company has a market capitalization of $478.34 million, a price-to-earnings ratio of 16.40, a PEG ratio of 3.03 and a beta of 0.98. The company has a quick ratio of 2.19, a current ratio of 3.06 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $43.80 and a 200-day moving average price of $38.40. Northwest Pipe has a twelve month low of $25.67 and a twelve month high of $48.32.

Northwest Pipe (NASDAQ:NWPX) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.19. The firm 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%. Equities analysts expect that Northwest Pipe will post 2.96 EPS for the current year.

Insider Buying and Selling at Northwest Pipe

In other Northwest Pipe news, EVP Miles Brittain sold 4,500 shares of Northwest Pipe stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 in the company, valued at $1,083,450.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $42.37, for a total value of $42,370.00. Following the completion of the sale, the vice president now directly owns 10,725 shares in the company, valued at approximately $454,418.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Miles Brittain sold 4,500 shares of the business’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 owns 25,858 shares of the company’s stock, valued at approximately $1,083,450.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $275,140 over the last three months. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Northwest Pipe

Hedge funds have recently made changes to their positions in the business. Covestor Ltd lifted 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 worth $29,000 after acquiring an additional 613 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Northwest Pipe during the 1st quarter valued at $95,000. EntryPoint Capital LLC raised its holdings in Northwest Pipe by 120.2% during the 1st quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock valued at $120,000 after buying an additional 1,890 shares during the last quarter. SG Americas Securities LLC bought a new stake in Northwest Pipe during the 3rd quarter valued at $165,000. Finally, Semanteon Capital Management LP bought a new stake in Northwest Pipe during the 3rd quarter valued at $230,000. 80.63% of the stock is currently owned by institutional investors.

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.