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 report issued on Friday.

Other research analysts also recently issued reports about the company. DA Davidson boosted their price target on Northwest Pipe from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. TheStreet upgraded Northwest Pipe from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st.

Northwest Pipe Price Performance

Shares of NASDAQ:NWPX traded up $0.43 on Friday, hitting $32.72. The company had a trading volume of 65,542 shares, compared to its average volume of 45,071. The company has a current ratio of 2.83, a quick ratio of 1.88 and a debt-to-equity ratio of 0.16. The company has a market cap of $324.58 million, a PE ratio of 13.75, a PEG ratio of 2.73 and a beta of 0.97. Northwest Pipe has a 52-week low of $25.58 and a 52-week high of $35.32. The business has a 50 day moving average of $32.72 and a 200 day moving average of $29.94.

Northwest Pipe (NASDAQ:NWPX) last released its earnings results on Wednesday, May 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.18. The company had revenue of $113.22 million for the quarter, compared to analyst estimates of $103.20 million. Northwest Pipe had a net margin of 5.22% and a return on equity of 7.16%. During the same period in the prior year, the firm earned $0.23 EPS. As a group, equities analysts anticipate that Northwest Pipe will post 2.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Northwest Pipe

Several institutional investors and hedge funds have recently bought and sold shares of NWPX. Pullen Investment Management LLC acquired a new stake in shares of Northwest Pipe during the 1st quarter worth $839,000. Janney Montgomery Scott LLC increased its stake in Northwest Pipe by 9.7% during the first quarter. Janney Montgomery Scott LLC now owns 17,029 shares of the industrial products company’s stock worth $591,000 after acquiring an additional 1,507 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Northwest Pipe by 216.4% during the first quarter. BNP Paribas Financial Markets now owns 8,705 shares of the industrial products company’s stock worth $302,000 after acquiring an additional 5,954 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Northwest Pipe by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 50,831 shares of the industrial products company’s stock worth $1,763,000 after purchasing an additional 1,465 shares during the period. Finally, Pacific Ridge Capital Partners LLC lifted its stake in shares of Northwest Pipe by 16.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 317,067 shares of the industrial products company’s stock valued at $9,594,000 after purchasing an additional 44,756 shares in the last quarter. Institutional investors and hedge funds 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.