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

Northwest Pipe (NASDAQ:NWPX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other research firms have also issued reports on NWPX. DA Davidson boosted their price target on shares of Northwest Pipe from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. TheStreet raised shares of Northwest Pipe from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st.

Northwest Pipe Price Performance

Shares of NWPX traded up $0.43 during trading hours on Friday, hitting $32.72. 65,542 shares of the company were exchanged, compared to its average volume of 45,071. The firm has a fifty day simple moving average of $32.72 and a 200-day simple moving average of $29.94. The company has a market capitalization of $324.58 million, a PE ratio of 13.75, a PEG ratio of 2.73 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.83 and a quick ratio of 1.88. Northwest Pipe has a one year low of $25.58 and a one year high of $35.32.

Northwest Pipe (NASDAQ:NWPX) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.18. The firm had revenue of $113.22 million for the quarter, compared to analysts’ expectations of $103.20 million. Northwest Pipe had a return on equity of 7.16% and a net margin of 5.22%. During the same quarter last year, the business posted $0.23 EPS. As a group, sell-side analysts predict that Northwest Pipe will post 2.31 earnings per share for the current year.

Hedge Funds Weigh In On Northwest Pipe

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Northwest Pipe by 9.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 414,624 shares of the industrial products company’s stock worth $12,509,000 after purchasing an additional 35,997 shares during the period. Verus Capital Partners LLC grew its holdings in shares of Northwest Pipe by 7.6% during the 3rd quarter. Verus Capital Partners LLC now owns 11,290 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 800 shares in the last quarter. Barclays PLC grew its holdings in shares of Northwest Pipe by 35.2% during the 3rd quarter. Barclays PLC now owns 2,657 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 692 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Northwest Pipe in the third quarter worth $420,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Northwest Pipe by 6.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 7,188 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 457 shares in the last quarter. 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.