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

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

Several other equities research analysts also recently commented on the stock. Northland Securities downgraded shares of 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 research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Northwest Pipe currently has a consensus rating of “Hold” and a consensus price target of $45.00.

Northwest Pipe Price Performance

Shares of NASDAQ NWPX opened at $49.83 on Friday. Northwest Pipe has a fifty-two week low of $27.89 and a fifty-two week high of $57.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. The company has a market cap of $494.26 million, a PE ratio of 16.95, a P/E/G ratio of 3.19 and a beta of 1.02. The business has a 50-day simple moving average of $51.55 and a two-hundred day simple moving average of $43.63.

Insider Buying and Selling at Northwest Pipe

In related news, VP Megan A. Kendrick sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the completion of the transaction, the vice president now directly owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. This represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zacks Investment Management acquired a new position in Northwest Pipe during the third quarter worth $1,607,000. American Century Companies Inc. raised its holdings 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 worth $4,274,000 after acquiring an additional 26,532 shares during the period. Silver Lake Advisory LLC acquired a new position in shares of Northwest Pipe during the 2nd quarter valued at about $743,000. Jane Street Group LLC purchased a new stake in shares of Northwest Pipe in the third quarter valued at about $944,000. Finally, JPMorgan Chase & Co. increased its position in Northwest Pipe by 34.2% during the third quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock worth $2,544,000 after purchasing an additional 14,374 shares during the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

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.