Northwest Pipe (NASDAQ:NWPX) Downgraded by StockNews.com to Hold

Northwest Pipe (NASDAQ:NWPX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

A number of other analysts have also recently issued reports on NWPX. Northland Capmk cut Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Northland Securities downgraded Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.00.

Northwest Pipe Stock Performance

NASDAQ NWPX traded down $0.12 on Wednesday, hitting $53.82. 55,790 shares of the stock were exchanged, compared to its average volume of 42,572. The company has a market capitalization of $533.84 million, a PE ratio of 18.31, a P/E/G ratio of 3.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27. The business’s fifty day moving average is $50.10 and its 200 day moving average is $42.46. Northwest Pipe has a 52 week low of $27.20 and a 52 week high of $57.76.

Insiders Place Their Bets

In other 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 value of $44,220.00. Following the completion of the sale, the vice president now owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 2,300 shares of company stock worth $102,520 over the last three months. Insiders own 3.30% of the company’s stock.

Institutional Trading of Northwest Pipe

Several hedge funds and other institutional investors have recently bought and sold shares of NWPX. Zacks Investment Management acquired a new stake in shares of Northwest Pipe during the 3rd quarter worth $1,607,000. American Century Companies Inc. grew its stake in Northwest Pipe by 26.7% during the second quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock worth $4,274,000 after buying an additional 26,532 shares in the last quarter. Silver Lake Advisory LLC bought a new position in Northwest Pipe in the 2nd quarter valued at about $743,000. Jane Street Group LLC acquired a new position in shares of Northwest Pipe in the 3rd quarter valued at approximately $944,000. Finally, Ellsworth Advisors LLC bought a new stake in shares of Northwest Pipe during the 2nd quarter worth approximately $529,000. 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.