Northwest Pipe (NASDAQ:NWPX) Lowered to Market Perform Rating by Northland Securities

Northland Securities cut shares of Northwest Pipe (NASDAQ:NWPX - Free Report) from an outperform rating to a market perform rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have $50.00 price target on the industrial products company's stock.

Separately, StockNews.com downgraded Northwest Pipe from a "buy" rating to a "hold" rating in a research note on Monday, September 30th.

Northwest Pipe Stock Performance

NWPX traded up $3.33 during midday trading on Friday, reaching $48.22. The company had a trading volume of 70,185 shares, compared to its average volume of 41,580. Northwest Pipe has a 1 year low of $25.67 and a 1 year high of $48.32. The company has a quick ratio of 2.19, a current ratio of 3.06 and a debt-to-equity ratio of 0.22. The company has a market cap of $478.34 million, a P/E ratio of 16.40, a P/E/G ratio of 3.03 and a beta of 0.98. The business has a 50-day moving average of $43.80 and a two-hundred day moving average of $38.40.

Northwest Pipe (NASDAQ:NWPX - Get Free Report) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.19. The company had revenue of $129.51 million for the quarter, compared to analysts' expectations of $119.76 million. Northwest Pipe had a net margin of 6.12% and a return on equity of 8.57%. As a group, equities research analysts predict that Northwest Pipe will post 2.96 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Miles Brittain sold 4,500 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total value of $188,550.00. Following the sale, the executive vice president now directly owns 25,858 shares in the company, valued at approximately $1,083,450.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Megan A. Kendrick sold 1,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total value of $44,220.00. Following the sale, the vice president now directly owns 9,725 shares in the company, valued at $430,039.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Miles Brittain sold 4,500 shares of the company's stock in a transaction dated 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 in the company, valued at $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 sold a total of 6,500 shares of company stock worth $275,140 over the last 90 days. Corporate insiders own 3.30% of the company's stock.

Institutional Investors Weigh In On Northwest Pipe

Several large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in shares of Northwest Pipe in the 1st quarter worth approximately $95,000. EntryPoint Capital LLC lifted its position in Northwest Pipe by 120.2% in the first 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 during the last quarter. SG Americas Securities LLC purchased a new position in Northwest Pipe during the third quarter worth $165,000. Semanteon Capital Management LP bought a new position in Northwest Pipe during the third quarter valued at $230,000. Finally, Summit Global Investments purchased a new stake in shares of Northwest Pipe in the third quarter valued at $262,000. 80.63% of the stock is owned by 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.