Northwest Pipe (NASDAQ:NWPX) Given New $55.00 Price Target at Northland Securities

Northwest Pipe (NASDAQ:NWPX) had its price target upped by Northland Securities from $50.00 to $55.00 in a report published on Friday,Benzinga reports. The firm currently has a market perform rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the stock. Northland Capmk cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. StockNews.com downgraded shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Friday, December 27th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.50.

Northwest Pipe Trading Down 0.9 %

Northwest Pipe stock opened at $47.05 on Friday. Northwest Pipe has a 12 month low of $27.89 and a 12 month high of $57.76. 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 business’s fifty day simple moving average is $52.00 and its two-hundred day simple moving average is $44.25. The company has a market capitalization of $466.69 million, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 3.19 and a beta of 1.05.

Insider Buying and Selling at Northwest Pipe

In related news, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction 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 sale, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd boosted its stake in shares of Northwest Pipe by 1,857.6% during the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 613 shares during the last quarter. Quantbot Technologies LP purchased a new position in Northwest Pipe during the third quarter valued at $67,000. SG Americas Securities LLC purchased a new position in Northwest Pipe during the third quarter valued at $165,000. Semanteon Capital Management LP bought a new stake in Northwest Pipe during the third quarter valued at about $230,000. Finally, Summit Global Investments purchased a new stake in Northwest Pipe in the third quarter worth about $262,000. 80.63% of the stock is 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.