Northwest Pipe (NASDAQ:NWPX) Upgraded at StockNews.com

Northwest Pipe (NASDAQ:NWPX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

NWPX has been the topic of several other research reports. Northland Capmk cut Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Northland Securities cut Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective on the stock. in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Northwest Pipe Price Performance

Shares of NASDAQ:NWPX opened at $49.27 on Thursday. The company has a 50 day moving average of $51.09 and a 200 day moving average of $43.10. 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 $488.71 million, a P/E ratio of 16.76, a P/E/G ratio of 3.19 and a beta of 1.02. Northwest Pipe has a 12 month low of $27.89 and a 12 month high of $57.76.

Insiders Place Their Bets

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of the transaction, the vice president now owns 9,725 shares of the company’s stock, valued at $430,039.50. This represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Northwest Pipe

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its holdings in Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 613 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Northwest Pipe in the 3rd quarter worth about $67,000. SG Americas Securities LLC bought a new stake in shares of Northwest Pipe during the 3rd quarter valued at about $165,000. Semanteon Capital Management LP purchased a new position in shares of Northwest Pipe during the third quarter valued at about $230,000. Finally, Summit Global Investments purchased a new position in shares of Northwest Pipe during the third quarter valued at about $262,000. 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.