Northwest Pipe (NASDAQ:NWPX) Rating Increased to Buy at StockNews.com

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

Other equities analysts have also issued research reports about the company. Northland Securities lowered Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research note on Friday, November 1st. Northland Capmk cut Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Northwest Pipe presently has an average rating of “Moderate Buy” and an average price target of $45.00.

Northwest Pipe Trading Up 0.2 %

Shares of NASDAQ:NWPX opened at $53.25 on Friday. Northwest Pipe has a 12-month low of $25.81 and a 12-month high of $55.22. The company has a market cap of $528.19 million, a PE ratio of 18.11, a price-to-earnings-growth ratio of 3.21 and a beta of 0.98. The stock has a 50 day moving average of $45.66 and a 200 day moving average of $39.89. 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 other news, EVP Miles Brittain sold 4,500 shares of the company’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 transaction, the executive vice president now owns 25,858 shares of the company’s stock, valued at approximately $1,083,450.20. This represents a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $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 90 days, insiders sold 6,500 shares of company stock worth $275,140. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northwest Pipe

Hedge funds have recently made changes to their positions in the company. Covestor Ltd increased its stake in shares of Northwest Pipe by 1,857.6% during the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after buying an additional 613 shares during the period. Quantbot Technologies LP bought a new stake in shares of Northwest Pipe in the 3rd quarter valued at about $67,000. Lazard Asset Management LLC bought a new stake in shares of Northwest Pipe in the 1st quarter valued at about $95,000. EntryPoint Capital LLC lifted its position in shares of Northwest Pipe by 120.2% in the 1st quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,890 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Northwest Pipe during the third quarter valued at approximately $165,000. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

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.