Northland Securities Boosts Northwest Pipe (NASDAQ:NWPX) Price Target to $55.00

Northwest Pipe (NASDAQ:NWPX - Free Report) had its price target increased by Northland Securities from $50.00 to $55.00 in a report issued on Friday,Benzinga reports. Northland Securities currently has a market perform rating on the industrial products company's stock.

NWPX has been the topic of several other research reports. StockNews.com downgraded Northwest Pipe from a "buy" rating to a "hold" rating in a research note on Friday, December 27th. Northland Capmk cut Northwest Pipe from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $47.50.

Northwest Pipe Stock Down 0.9 %

NWPX traded down $0.42 during midday trading on Friday, reaching $47.05. The company's stock had a trading volume of 198,014 shares, compared to its average volume of 118,107. Northwest Pipe has a 1 year low of $27.89 and a 1 year high of $57.76. The stock's 50-day moving average is $51.93 and its 200-day moving average is $44.15. The firm has a market capitalization of $466.69 million, a price-to-earnings ratio of 16.00, a PEG ratio of 3.19 and a beta of 1.05. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17.

Insider Activity at Northwest Pipe

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was 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 approximately $430,039.50. The trade was a 9.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Northwest Pipe

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Northwest Pipe by 7.5% in the third quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company's stock worth $2,396,000 after buying an additional 3,718 shares during the last quarter. American Century Companies Inc. raised its position in Northwest Pipe by 26.7% in the second quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company's stock worth $4,274,000 after acquiring an additional 26,532 shares during the period. Jane Street Group LLC purchased a new position in shares of Northwest Pipe during the 3rd quarter worth $944,000. Silver Lake Advisory LLC bought a new stake in shares of Northwest Pipe during the 2nd quarter valued at $743,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Northwest Pipe by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,509 shares of the industrial products company's stock worth $1,818,000 after purchasing an additional 2,428 shares in the last quarter. 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.