Northwest Pipe (NASDAQ:NWPX) Rating Increased to Hold at ValuEngine

Northwest Pipe (NASDAQ:NWPX) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of Northwest Pipe from a “buy” rating to a “hold” rating in a report on Tuesday.

Shares of NASDAQ:NWPX traded down $1.05 during mid-day trading on Thursday, reaching $25.05. 30,338 shares of the company’s stock were exchanged, compared to its average volume of 24,548. The firm has a market cap of $243.99 million, a price-to-earnings ratio of -139.17, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. The firm’s fifty day simple moving average is $24.56. Northwest Pipe has a twelve month low of $16.52 and a twelve month high of $26.71.

Northwest Pipe (NASDAQ:NWPX) last issued its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). The business had revenue of $69.20 million for the quarter, compared to analyst estimates of $62.00 million. Northwest Pipe had a return on equity of 4.47% and a net margin of 13.68%. Equities research analysts expect that Northwest Pipe will post 1.51 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its holdings in Northwest Pipe by 551.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,025 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,714 shares during the period. Metropolitan Life Insurance Co. NY acquired a new position in Northwest Pipe in the fourth quarter valued at $77,000. MetLife Investment Advisors LLC acquired a new position in Northwest Pipe in the fourth quarter valued at $106,000. Bank of America Corp DE lifted its holdings in Northwest Pipe by 32.1% in the fourth quarter. Bank of America Corp DE now owns 7,029 shares of the industrial products company’s stock valued at $164,000 after buying an additional 1,709 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in Northwest Pipe in the first quarter valued at $288,000. Institutional investors and hedge funds own 77.94% of the company’s stock.

About Northwest Pipe

Northwest Pipe Company manufactures engineered welded steel pipe water systems in North America. It produces large-diameter, high-pressure, and engineered welded steel pipeline systems for use in drinking water infrastructure; and pipes for piling and hydroelectric projects, water and wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.

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