Northwest Pipe (NASDAQ:NWPX) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Northwest Pipe (NASDAQ:NWPX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.96 and traded as high as $46.71. Northwest Pipe shares last traded at $46.64, with a volume of 77,124 shares.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com lowered Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Tuesday. Northland Capmk downgraded Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Northland Securities raised their target price on Northwest Pipe from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.50.

Northwest Pipe Trading Up 3.2 %

The company has a market cap of $462.62 million, a PE ratio of 15.86, a price-to-earnings-growth ratio of 3.19 and a beta of 1.05. The business has a 50 day simple moving average of $52.08 and a two-hundred day simple moving average of $44.96. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Northwest Pipe

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new stake in Northwest Pipe during the 3rd quarter worth $944,000. Assenagon Asset Management S.A. increased its holdings in shares of Northwest Pipe by 7.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock worth $2,396,000 after acquiring an additional 3,718 shares during the period. American Century Companies Inc. boosted its stake in 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 valued at $4,274,000 after purchasing an additional 26,532 shares during the period. Silver Lake Advisory LLC acquired a new stake in Northwest Pipe in the 2nd quarter valued at approximately $743,000. Finally, Barclays PLC raised its position in shares of Northwest Pipe by 272.8% during the 3rd quarter. Barclays PLC now owns 13,001 shares of the industrial products company’s stock worth $586,000 after buying an additional 9,514 shares in the last quarter. Institutional investors and hedge funds 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.