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

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

Several other analysts have also commented on the stock. Northland Securities lowered shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a research note on Friday. StockNews.com raised shares of Northwest Pipe from a “hold” rating to a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Northwest Pipe Price Performance

NASDAQ:NWPX traded up $3.33 during mid-day trading on Friday, hitting $48.22. 70,185 shares of the company’s stock traded hands, compared to its average volume of 41,580. Northwest Pipe has a 1 year low of $25.67 and a 1 year high of $48.32. The company has a market cap of $478.34 million, a PE ratio of 16.40, a price-to-earnings-growth ratio of 3.03 and a beta of 0.98. The firm’s 50 day simple moving average is $43.80 and its 200 day simple moving average is $38.40. 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 (NASDAQ:NWPX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.19. The business had revenue of $129.51 million during the quarter, compared to analyst estimates of $119.76 million. Northwest Pipe had a net margin of 6.12% and a return on equity of 8.57%. Sell-side analysts expect that Northwest Pipe will post 2.96 EPS for the current year.

Insiders Place Their Bets

In other Northwest Pipe news, EVP Miles Brittain sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 in the company, valued at $1,083,450.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Miles Brittain sold 4,500 shares of Northwest Pipe 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 owns 25,858 shares of the company’s stock, valued at $1,083,450.20. The trade was 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 at this link. Also, VP Megan A. Kendrick sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the transaction, the vice president now owns 9,725 shares of the company’s stock, valued at $430,039.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $275,140 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

Institutional investors have recently modified their holdings of the stock. Ellsworth Advisors LLC bought a new stake in shares of Northwest Pipe during the 2nd quarter valued at about $529,000. Silver Lake Advisory LLC bought a new stake in Northwest Pipe during the second quarter worth approximately $743,000. American Century Companies Inc. boosted its stake in shares of Northwest Pipe by 26.7% during the 2nd quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock worth $4,274,000 after purchasing an additional 26,532 shares during the period. Assenagon Asset Management S.A. grew its position in Northwest Pipe by 7.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock valued at $2,396,000 after acquiring an additional 3,718 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Northwest Pipe by 4.2% in the first quarter. Russell Investments Group Ltd. now owns 56,226 shares of the industrial products company’s stock valued at $1,950,000 after purchasing an additional 2,281 shares during the period. 80.63% of the stock is owned by hedge funds and other 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.