Northwest Pipe (NASDAQ:NWPX) Cut to Hold at Northland Capmk

Northland Capmk downgraded shares of Northwest Pipe (NASDAQ:NWPX - Free Report) from a strong-buy rating to a hold rating in a research report released on Friday, Zacks.com reports. Northland Capmk also issued estimates for Northwest Pipe's FY2024 earnings at $3.39 EPS.

Several other brokerages also recently commented on NWPX. Northland Securities downgraded shares of Northwest Pipe from an "outperform" rating to a "market perform" rating and set a $50.00 target price on the stock. in a report on Friday. StockNews.com raised shares of Northwest Pipe from a "hold" rating to a "buy" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Northwest Pipe presently has a consensus rating of "Moderate Buy" and an average target price of $45.00.

Northwest Pipe Trading Up 7.4 %

NASDAQ NWPX traded up $3.33 on Friday, reaching $48.22. The company had a trading volume of 70,185 shares, compared to its average volume of 27,860. Northwest Pipe has a 52 week low of $25.67 and a 52 week high of $48.32. The stock's 50 day moving average is $43.80 and its 200-day moving average is $38.40. 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 stock has a market cap of $478.34 million, a price-to-earnings ratio of 16.40, a PEG ratio of 3.04 and a beta of 0.98.

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

Insider Activity at Northwest Pipe

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

Institutional Trading of Northwest Pipe

Institutional investors have recently bought and sold shares of the business. Covestor Ltd grew its stake in Northwest Pipe by 1,857.6% during the third 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 acquired a new position in Northwest Pipe during the first quarter valued at approximately $95,000. EntryPoint Capital LLC lifted its stake in Northwest Pipe by 120.2% during the first quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company's stock worth $120,000 after purchasing an additional 1,890 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Northwest Pipe in the 3rd quarter valued at $165,000. Finally, Semanteon Capital Management LP bought a new position in shares of Northwest Pipe in the 3rd quarter valued at $230,000. Institutional investors own 80.63% 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.