Northwest Pipe (NASDAQ:NWPX) Receives Buy Rating from Northland Securities

Northland Securities reiterated their buy rating on shares of Northwest Pipe (NASDAQ:NWPX) in a research note issued to investors on Friday, AnalystRatings.com reports. They currently have a $45.00 price objective on the industrial products company’s stock.

A number of other research analysts have also recently commented on NWPX. Zacks Investment Research raised Northwest Pipe from a hold rating to a buy rating and set a $34.00 target price on the stock in a research note on Saturday, November 2nd. BidaskClub raised Northwest Pipe from a buy rating to a strong-buy rating in a research note on Friday. Finally, ValuEngine lowered Northwest Pipe from a hold rating to a sell rating in a research note on Tuesday, December 3rd.

NWPX stock opened at $34.57 on Friday. Northwest Pipe has a one year low of $18.04 and a one year high of $34.70. The stock has a market cap of $334.03 million, a PE ratio of -192.06 and a beta of 0.83. The firm has a 50 day simple moving average of $32.42 and a two-hundred day simple moving average of $27.13.

Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.41. Northwest Pipe had a net margin of 6.06% and a return on equity of 7.46%. The firm had revenue of $75.23 million for the quarter, compared to analysts’ expectations of $70.00 million. On average, sell-side analysts forecast that Northwest Pipe will post 2.24 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP bought a new position in Northwest Pipe during the first quarter valued at approximately $408,000. Wedge Capital Management L L P NC bought a new stake in shares of Northwest Pipe in the 2nd quarter worth approximately $336,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Northwest Pipe by 4.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 23,236 shares of the industrial products company’s stock worth $600,000 after acquiring an additional 966 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Northwest Pipe by 0.4% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 253,582 shares of the industrial products company’s stock worth $6,537,000 after acquiring an additional 898 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Northwest Pipe by 3.0% in the 2nd quarter. Northern Trust Corp now owns 145,222 shares of the industrial products company’s stock valued at $3,744,000 after purchasing an additional 4,201 shares in the last quarter. 75.65% of the stock is owned by institutional investors and hedge funds.

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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