StockNews.com Upgrades Northwest Pipe (NASDAQ:NWPX) to "Buy"

Northwest Pipe (NASDAQ:NWPX - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Monday.

NWPX has been the subject of several other reports. Northland Capmk downgraded shares of Northwest Pipe from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 1st. Northland Securities boosted their price objective on Northwest Pipe from $50.00 to $55.00 and gave the stock a "market perform" rating in a report on Friday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Northwest Pipe Stock Up 3.8 %

NASDAQ NWPX traded up $1.80 during mid-day trading on Monday, hitting $48.85. The company's stock had a trading volume of 198,493 shares, compared to its average volume of 144,898. The firm has a market capitalization of $484.54 million, a price-to-earnings ratio of 16.62, a PEG ratio of 3.19 and a beta of 1.05. The company's 50 day simple moving average is $52.08 and its 200 day simple moving average is $44.51. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17. Northwest Pipe has a twelve month low of $27.89 and a twelve month high of $57.76.

Insiders Place Their Bets

In related news, VP Megan A. Kendrick sold 1,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of the sale, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NWPX. Covestor Ltd lifted its stake in 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 purchasing an additional 613 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Northwest Pipe in the third quarter valued at $67,000. SG Americas Securities LLC purchased a new position in shares of Northwest Pipe during the 3rd quarter valued at $165,000. Semanteon Capital Management LP bought a new position in shares of Northwest Pipe during the 3rd quarter worth $230,000. Finally, Summit Global Investments purchased a new stake in Northwest Pipe in the 3rd quarter worth about $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.