Northwest Pipe (NASDAQ:NWPX) Rating Lowered to Hold at StockNews.com

Northwest Pipe (NASDAQ:NWPX - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Other equities analysts have also recently issued research reports about the stock. Northland Securities cut shares of Northwest Pipe from an "outperform" rating to a "market perform" rating and set a $50.00 price objective for the company. in a research report on Friday, November 1st. Northland Capmk cut shares of Northwest Pipe from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $45.00.

Northwest Pipe Trading Down 0.7 %

Shares of NASDAQ NWPX traded down $0.40 during midday trading on Monday, reaching $55.89. 56,929 shares of the stock were exchanged, compared to its average volume of 42,531. The company has a 50 day simple moving average of $47.27 and a 200 day simple moving average of $40.81. The stock has a market capitalization of $554.37 million, a P/E ratio of 19.01, a PEG ratio of 3.40 and a beta of 0.98. 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 twelve month low of $25.81 and a twelve month high of $57.08.

Insider Activity

In related news, EVP Miles Brittain sold 4,500 shares of Northwest Pipe 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 directly owns 25,858 shares in the company, valued at $1,083,450.20. This trade represents a 14.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe 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 transaction, the vice president now owns 10,725 shares in the company, valued at approximately $454,418.25. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,800 shares of company stock worth $291,070. 3.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Northwest Pipe

Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd boosted its holdings in shares of Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 613 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Northwest Pipe during the third quarter worth about $67,000. Lazard Asset Management LLC purchased a new stake in Northwest Pipe during the first quarter worth about $95,000. SG Americas Securities LLC purchased a new stake in Northwest Pipe during the third quarter worth about $165,000. Finally, Semanteon Capital Management LP purchased a new stake in Northwest Pipe during the third quarter worth about $230,000. Hedge funds and other institutional investors own 80.63% of the company's stock.

About Northwest Pipe

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.