Northwest Pipe (NASDAQ:NWPX - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.
Separately, Northland Securities lowered Northwest Pipe from an "outperform" rating to a "market perform" rating and set a $50.00 target price for the company. in a research report on Friday.
Read Our Latest Research Report on Northwest Pipe
Shares of Northwest Pipe stock traded up $3.33 on Friday, reaching $48.22. 70,185 shares of the company's stock were exchanged, compared to its average volume of 41,580. The firm's 50-day moving average is $43.80 and its two-hundred day moving average is $38.40. The company has a market capitalization of $478.34 million, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 3.03 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.19 and a current ratio of 3.06. Northwest Pipe has a 52 week low of $25.67 and a 52 week high of $48.32.
Northwest Pipe (NASDAQ:NWPX - Get Free Report) last posted its quarterly 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. Northwest Pipe had a net margin of 6.12% and a return on equity of 8.57%. The business had revenue of $129.51 million during the quarter, compared to analysts' expectations of $119.76 million. Sell-side analysts predict that Northwest Pipe will post 2.96 EPS for the current fiscal year.
In other news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Megan A. Kendrick sold 1,000 shares of the company's stock in a transaction on Monday, September 16th. The stock was 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 owns 10,725 shares in the company, valued at approximately $454,418.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Miles Brittain sold 4,500 shares of the firm'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 transaction, the executive vice president now directly owns 25,858 shares in the company, valued at $1,083,450.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,500 shares of company stock worth $275,140. Insiders own 3.30% of the company's stock.
Large investors have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new position in Northwest Pipe during the first quarter valued at about $95,000. EntryPoint Capital LLC grew its position in shares of Northwest Pipe by 120.2% during the 1st quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company's stock valued at $120,000 after acquiring an additional 1,890 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Northwest Pipe during the 3rd quarter worth approximately $165,000. Semanteon Capital Management LP bought a new stake in shares of Northwest Pipe in the 3rd quarter worth approximately $230,000. Finally, Summit Global Investments purchased a new position in Northwest Pipe in the third quarter valued at approximately $262,000. 80.63% of the stock is owned by hedge funds and other institutional investors.
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.
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