Northwest Pipe (NASDAQ:NWPX) Rating Lowered to “Hold” at StockNews.com

Northwest Pipe (NASDAQ:NWPX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

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

Northwest Pipe Trading Down 2.1 %

NASDAQ:NWPX opened at $48.78 on Friday. Northwest Pipe has a 1 year low of $27.89 and a 1 year high of $57.76. The stock’s fifty day moving average price is $51.62 and its two-hundred day moving average price is $43.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27. The company has a market cap of $483.85 million, a P/E ratio of 16.59, a P/E/G ratio of 3.19 and a beta of 1.02.

Insider Activity at Northwest Pipe

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction dated 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 $430,039.50. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NWPX. Geode Capital Management LLC raised its stake 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 valued at $10,076,000 after purchasing an additional 2,657 shares in the last quarter. Foundry Partners LLC raised its position in shares of Northwest Pipe by 0.8% during the 2nd quarter. Foundry Partners LLC now owns 175,945 shares of the industrial products company’s stock valued at $5,977,000 after buying an additional 1,340 shares in the last quarter. American Century Companies Inc. raised its position 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 valued at $4,274,000 after buying an additional 26,532 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Northwest Pipe by 34.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock worth $2,544,000 after acquiring an additional 14,374 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in 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 worth $1,818,000 after acquiring an additional 2,428 shares in the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

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.