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

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

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

Northwest Pipe Stock Performance

NASDAQ NWPX opened at $48.78 on Friday. The firm has a 50-day moving average of $51.62 and a 200-day moving average of $43.74. Northwest Pipe has a 52-week low of $27.89 and a 52-week high of $57.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. The stock has a market cap of $483.85 million, a PE ratio of 16.59, a P/E/G ratio of 3.19 and a beta of 1.02.

Insider Transactions at Northwest Pipe

In other news, VP Megan A. Kendrick sold 1,000 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly 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 document filed with the SEC, which is available through this hyperlink. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Northwest Pipe

Several large investors have recently bought and sold shares of the stock. Covestor Ltd boosted its holdings in Northwest Pipe by 1,857.6% during the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 613 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Northwest Pipe in the third quarter valued at approximately $67,000. SG Americas Securities LLC bought a new position in shares of Northwest Pipe in the third quarter valued at approximately $165,000. Semanteon Capital Management LP purchased a new stake in shares of Northwest Pipe during the third quarter valued at approximately $230,000. Finally, Summit Global Investments bought a new stake in Northwest Pipe during the third quarter worth $262,000. 80.63% of the stock is currently owned by institutional investors.

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.