Northwest Pipe (NASDAQ:NWPX) Lowered to Hold Rating by StockNews.com

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

A number of other research analysts have also commented on NWPX. Northland Capmk lowered shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Northland Securities lowered Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.00.

Northwest Pipe Price Performance

NWPX stock opened at $56.39 on Monday. The firm has a 50 day moving average of $47.78 and a 200-day moving average of $41.06. The firm has a market capitalization of $559.39 million, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 3.37 and a beta of 0.98. Northwest Pipe has a 12 month low of $25.81 and a 12 month high of $57.08. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17.

Insider Transactions at Northwest Pipe

In related news, 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 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. The trade was a 14.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Megan A. Kendrick sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 9,725 shares in the company, valued at $430,039.50. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,800 shares of company stock valued at $291,070. Insiders own 3.30% of the company’s stock.

Institutional Trading of Northwest Pipe

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Northwest Pipe by 1.8% in the first quarter. Vanguard Group Inc. now owns 506,110 shares of the industrial products company’s stock worth $17,552,000 after buying an additional 8,924 shares during the period. Quadrature Capital Ltd bought a new stake in Northwest Pipe in the first quarter valued at approximately $400,000. Lazard Asset Management LLC purchased a new stake in shares of Northwest Pipe during the first quarter valued at approximately $95,000. Price T Rowe Associates Inc. MD increased its stake in shares of Northwest Pipe by 4.7% in 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. Finally, Silver Lake Advisory LLC bought a new stake in Northwest Pipe during the 2nd quarter valued at $743,000. 80.63% of the stock is 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.