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

StockNews.com upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a research note issued to investors on Monday.

NWPX has been the topic of several other reports. Northland Capmk lowered Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Northland Securities raised their target price on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Northwest Pipe Trading Up 3.8 %

Shares of NWPX opened at $48.85 on Monday. Northwest Pipe has a fifty-two week low of $27.89 and a fifty-two week high of $57.76. The firm has a market cap of $484.54 million, a price-to-earnings ratio of 16.62, a PEG ratio of 3.19 and a beta of 1.05. The firm has a 50 day moving average price of $52.08 and a 200-day moving average price of $44.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20.

Insiders Place Their Bets

In related news, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total transaction of $44,220.00. Following the transaction, the vice president now owns 9,725 shares in the company, valued at $430,039.50. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Northwest Pipe

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

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.