Northland Capmk Raises Earnings Estimates for Northwest Pipe

Northwest Pipe (NASDAQ:NWPX) – Investment analysts at Northland Capmk increased their FY2024 earnings per share (EPS) estimates for Northwest Pipe in a report released on Friday, January 3rd. Northland Capmk analyst E. Jackson now anticipates that the industrial products company will earn $3.40 per share for the year, up from their previous 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.

A number of other brokerages have also recently issued reports on NWPX. StockNews.com upgraded Northwest Pipe from a “hold” rating to a “buy” rating in a report on Monday. Northland Securities upped their price objective on Northwest Pipe from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.50.

Northwest Pipe Stock Performance

Shares of NWPX stock opened at $46.76 on Monday. The company has a market capitalization of $463.81 million, a price-to-earnings ratio of 15.90, a PEG ratio of 3.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. Northwest Pipe has a 52 week low of $27.89 and a 52 week high of $57.76. The company has a 50-day simple moving average of $52.11 and a 200 day simple moving average of $44.60.

Hedge Funds Weigh In On Northwest Pipe

Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd boosted its position in shares of Northwest Pipe by 1,857.6% during the 3rd 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 $67,000. SG Americas Securities LLC acquired a new stake in shares of Northwest Pipe in the 3rd quarter valued at $165,000. Semanteon Capital Management LP bought a new position in shares of Northwest Pipe in the 3rd quarter valued at $230,000. Finally, Summit Global Investments bought a new position in shares of Northwest Pipe in the 3rd quarter valued at $262,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northwest Pipe

In related news, VP Megan A. Kendrick sold 1,000 shares of the company’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 of the company’s stock, valued at $430,039.50. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.30% 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.