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

Northwest Pipe (NASDAQ:NWPX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

NWPX has been the subject of a number of other reports. Northland Securities cut Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a research note on Friday, November 1st. Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.00.

Northwest Pipe Trading Down 0.2 %

Shares of Northwest Pipe stock traded down $0.12 during trading on Wednesday, reaching $53.82. 55,790 shares of the company were exchanged, compared to its average volume of 42,572. The business has a 50-day moving average price of $50.10 and a 200-day moving average price of $42.46. The firm has a market capitalization of $533.84 million, a price-to-earnings ratio of 18.31, a P/E/G ratio of 3.36 and a beta of 1.02. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. Northwest Pipe has a twelve month low of $27.20 and a twelve month high of $57.76.

Insiders Place Their Bets

In other news, VP Megan A. Kendrick sold 1,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $430,039.50. This represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,300 shares of company stock worth $102,520 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northwest Pipe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NWPX. Zacks Investment Management acquired a new position in Northwest Pipe during the 3rd quarter worth approximately $1,607,000. American Century Companies Inc. lifted its position in shares of Northwest Pipe by 26.7% in the second 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 in the last quarter. Silver Lake Advisory LLC acquired a new position in Northwest Pipe during the second quarter worth $743,000. Jane Street Group LLC bought a new position in Northwest Pipe in the third quarter valued at $944,000. Finally, Ellsworth Advisors LLC acquired a new stake in Northwest Pipe in the 2nd quarter valued at $529,000. 80.63% of the stock is owned by institutional investors and hedge funds.

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.