Northwest Pipe (NASDAQ:NWPX) Upgraded at StockNews.com

Northwest Pipe (NASDAQ:NWPX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

A number of other research analysts have also weighed in on NWPX. Northland Capmk lowered Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Northland Securities boosted their price objective on shares of Northwest Pipe from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Northwest Pipe currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Northwest Pipe Stock Performance

Shares of Northwest Pipe stock traded up $1.80 during trading hours on Monday, reaching $48.85. The company had a trading volume of 198,493 shares, compared to its average volume of 144,898. The firm has a market cap of $484.54 million, a PE ratio of 16.62, a price-to-earnings-growth ratio of 3.19 and a beta of 1.05. Northwest Pipe has a one year low of $27.89 and a one year high of $57.76. 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 fifty day simple moving average of $52.08 and a 200 day simple moving average of $44.51.

Insiders Place Their Bets

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Northwest Pipe

Several institutional investors and hedge funds have recently made changes to their positions in NWPX. Covestor Ltd grew its position in Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 613 shares in the last quarter. Quantbot Technologies LP bought a new stake in Northwest Pipe during the third quarter worth about $67,000. SG Americas Securities LLC purchased a new position in shares of Northwest Pipe in the 3rd quarter worth about $165,000. Semanteon Capital Management LP bought a new position in shares of Northwest Pipe during the 3rd quarter valued at about $230,000. Finally, Summit Global Investments purchased a new position in shares of Northwest Pipe during the 3rd quarter valued at about $262,000. Hedge funds and other institutional investors 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.