StockNews.com Upgrades Northwest Pipe (NASDAQ:NWPX) to “Buy”

Northwest Pipe (NASDAQ:NWPX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

NWPX has been the subject of several other reports. Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Northland Securities boosted their price objective on Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Northwest Pipe Stock Up 3.8 %

NASDAQ NWPX traded up $1.80 during mid-day trading on Monday, hitting $48.85. The company’s stock had a trading volume of 198,493 shares, compared to its average volume of 144,898. The firm has a market capitalization 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 company’s 50 day simple moving average is $52.08 and its 200 day simple moving average is $44.51. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17. Northwest Pipe has a twelve month low of $27.89 and a twelve month high of $57.76.

Insiders Place Their Bets

In related news, VP Megan A. Kendrick sold 1,000 shares of the firm’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 completion of the sale, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NWPX. Covestor Ltd lifted its stake in Northwest Pipe by 1,857.6% in the third 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 last quarter. Quantbot Technologies LP bought a new stake in shares of Northwest Pipe in the third quarter valued at $67,000. SG Americas Securities LLC purchased a new position in shares of Northwest Pipe during the 3rd quarter valued at $165,000. Semanteon Capital Management LP bought a new position in shares of Northwest Pipe during the 3rd quarter worth $230,000. Finally, Summit Global Investments purchased a new stake in Northwest Pipe in the 3rd quarter worth about $262,000. 80.63% of the stock is owned by 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.