Brokers Set Expectations for Northwest Pipe FY2024 Earnings

Northwest Pipe (NASDAQ:NWPX - Free Report) - Analysts at DA Davidson raised their FY2024 EPS estimates for Northwest Pipe in a research note issued on Tuesday, November 5th. DA Davidson analyst B. Thielman now expects that the industrial products company will post earnings per share of $3.37 for the year, up from their prior estimate of $2.93. The consensus estimate for Northwest Pipe's current full-year earnings is $3.17 per share.

Several other analysts have also commented on the stock. StockNews.com raised shares of Northwest Pipe from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Northland Securities lowered shares of Northwest Pipe from an "outperform" rating to a "market perform" rating and set a $50.00 price target on the stock. in a research report on Friday, November 1st. Finally, Northland Capmk cut shares of Northwest Pipe from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.00.

Northwest Pipe Stock Down 2.3 %

Shares of NASDAQ NWPX traded down $1.22 during mid-day trading on Thursday, reaching $52.34. 88,324 shares of the company's stock traded hands, compared to its average volume of 42,523. Northwest Pipe has a 1-year low of $25.67 and a 1-year high of $55.22. The stock has a market cap of $519.21 million, a P/E ratio of 17.80, a PEG ratio of 2.98 and a beta of 0.98. The business has a 50-day simple moving average of $44.18 and a 200 day simple moving average of $38.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27.

Insider Transactions at Northwest Pipe

In related news, VP Megan A. Kendrick sold 1,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $42.37, for a total value of $42,370.00. Following the transaction, the vice president now directly owns 10,725 shares of the company's stock, valued at approximately $454,418.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $42.37, for a total transaction of $42,370.00. Following the completion of the sale, the vice president now directly owns 10,725 shares in the company, valued at approximately $454,418.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Miles Brittain sold 4,500 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $41.90, for a total transaction of $188,550.00. Following the sale, the executive vice president now owns 25,858 shares of the company's stock, valued at approximately $1,083,450.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock valued at $275,140 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northwest Pipe

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd increased its stake in Northwest Pipe by 1,857.6% in the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company's stock worth $29,000 after buying an additional 613 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Northwest Pipe in the 1st quarter worth $95,000. EntryPoint Capital LLC increased its stake in Northwest Pipe by 120.2% in the 1st quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company's stock worth $120,000 after buying an additional 1,890 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Northwest Pipe during the 3rd quarter valued at about $165,000. Finally, Semanteon Capital Management LP bought a new position in shares of Northwest Pipe during the 3rd quarter valued at about $230,000. 80.63% of the stock is currently owned by hedge funds and other 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.