Northwest Pipe (NASDAQ:NWPX) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

NWPX has been the subject of several other research reports. Northland Capmk cut Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Northland Securities downgraded shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Northwest Pipe currently has an average rating of “Hold” and an average target price of $45.00.

Northwest Pipe Stock Down 1.4 %

Shares of NASDAQ NWPX opened at $52.84 on Wednesday. The company has a market capitalization of $524.17 million, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 3.25 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 has a 50-day moving average of $50.48 and a two-hundred day moving average of $42.66. Northwest Pipe has a 1 year low of $27.89 and a 1 year high of $57.76.

Insider Activity

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 of the company’s stock, valued at $430,039.50. The trade was a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 2,300 shares of company stock valued at $102,520. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

Several large investors have recently modified their holdings of the company. Covestor Ltd increased its holdings 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 acquiring an additional 613 shares during the period. Quantbot Technologies LP purchased a new position in Northwest Pipe during the 3rd quarter worth $67,000. SG Americas Securities LLC acquired a new position in Northwest Pipe in the third quarter valued at $165,000. Semanteon Capital Management LP purchased a new stake in shares of Northwest Pipe in the third quarter valued at about $230,000. Finally, Summit Global Investments acquired a new stake in shares of Northwest Pipe during the third quarter worth about $262,000. 80.63% of the stock is owned by institutional investors and hedge funds.

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.