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

StockNews.com downgraded shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a hold rating in a research note published on Tuesday morning.

Other analysts also recently issued reports about the company. Northland Capmk downgraded Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Northland Securities lifted their price target on shares of Northwest Pipe from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Three investment 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, Northwest Pipe presently has a consensus rating of “Hold” and an average price target of $47.50.

Northwest Pipe Price Performance

Northwest Pipe stock opened at $47.39 on Tuesday. Northwest Pipe has a 1 year low of $27.89 and a 1 year 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 firm has a 50 day moving average price of $52.08 and a 200 day moving average price of $44.96. The company has a market cap of $470.06 million, a price-to-earnings ratio of 16.12, a PEG ratio of 3.19 and a beta of 1.05.

Hedge Funds Weigh In On Northwest Pipe

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Northwest Pipe by 34.2% in the third quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock valued at $2,544,000 after acquiring an additional 14,374 shares in the last quarter. Barclays PLC grew its holdings in Northwest Pipe by 272.8% during the 3rd quarter. Barclays PLC now owns 13,001 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 9,514 shares in the last quarter. Geode Capital Management LLC increased its stake in Northwest Pipe by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 223,232 shares of the industrial products company’s stock worth $10,076,000 after buying an additional 2,657 shares during the period. Zacks Investment Management purchased a new position in Northwest Pipe in the 3rd quarter valued at about $1,607,000. Finally, Jane Street Group LLC acquired a new stake in shares of Northwest Pipe during the third quarter valued at about $944,000. 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.