Brokers Set Expectations for Northwest Pipe FY2024 Earnings

Northwest Pipe (NASDAQ:NWPX) – Equities research analysts at Northland Capmk boosted their FY2024 earnings per share estimates for Northwest Pipe in a research report issued to clients and investors on Friday, January 3rd. Northland Capmk analyst E. Jackson now expects that the industrial products company will post earnings of $3.40 per share for the year, up from their prior forecast of $3.39. Northland Capmk currently has a “Hold” rating on the stock. The consensus estimate for Northwest Pipe’s current full-year earnings is $3.31 per share. Northland Capmk also issued estimates for Northwest Pipe’s Q4 2024 earnings at $1.00 EPS, FY2026 earnings at $3.50 EPS, FY2027 earnings at $3.40 EPS, FY2028 earnings at $3.28 EPS and FY2029 earnings at $3.00 EPS.

NWPX has been the subject of several other research reports. Northland Securities boosted their price objective on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. StockNews.com raised Northwest Pipe from a “hold” rating to a “buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Northwest Pipe Trading Down 4.3 %

Shares of NASDAQ NWPX opened at $46.76 on Monday. Northwest Pipe has a 1-year low of $27.89 and a 1-year high of $57.76. The company has a 50-day moving average of $52.11 and a two-hundred day moving average of $44.60. The company has a market cap of $463.81 million, a PE ratio of 15.90, a P/E/G ratio of 3.19 and a beta of 1.05. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling

In other news, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 9,725 shares in the company, valued at approximately $430,039.50. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is currently owned by insiders.

Institutional Trading of Northwest Pipe

A number of hedge funds have recently modified their holdings of NWPX. Janney Montgomery Scott LLC increased its holdings in shares of Northwest Pipe by 3.1% in the third quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company’s stock worth $819,000 after acquiring an additional 549 shares in the last quarter. Covestor Ltd grew its position 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. Ellsworth Advisors LLC increased its stake in Northwest Pipe by 4.2% during the 3rd quarter. Ellsworth Advisors LLC now owns 16,207 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 647 shares in the last quarter. Stifel Financial Corp raised its holdings in Northwest Pipe by 6.2% during the 3rd quarter. Stifel Financial Corp now owns 13,202 shares of the industrial products company’s stock worth $596,000 after buying an additional 766 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Northwest Pipe during the 3rd quarter worth approximately $67,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

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.