Northwest Pipe (NASDAQ:NWPX) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a hold rating in a report released on Friday morning.

Several other analysts have also issued reports on NWPX. TheStreet raised Northwest Pipe from a c+ rating to a b- rating in a report on Thursday, February 1st. DA Davidson lifted their price objective on shares of Northwest Pipe from $37.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, March 6th.

Northwest Pipe Trading Up 1.3 %

Shares of Northwest Pipe stock opened at $32.72 on Friday. Northwest Pipe has a 52-week low of $25.58 and a 52-week high of $35.32. The stock has a market cap of $324.58 million, a PE ratio of 13.75, a PEG ratio of 2.83 and a beta of 0.97. The firm has a 50-day moving average of $32.80 and a 200-day moving average of $29.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.40 and a current ratio of 3.56.

Northwest Pipe (NASDAQ:NWPX) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.34 by $0.18. The company had revenue of $113.22 million for the quarter, compared to analysts’ expectations of $103.20 million. Northwest Pipe had a net margin of 5.22% and a return on equity of 7.11%. During the same period last year, the firm earned $0.23 earnings per share. As a group, sell-side analysts forecast that Northwest Pipe will post 2.31 EPS for the current year.

Institutional Investors Weigh In On Northwest Pipe

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pullen Investment Management LLC bought a new stake in shares of Northwest Pipe during the first quarter worth about $839,000. Janney Montgomery Scott LLC grew its holdings in Northwest Pipe by 9.7% during the 1st 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 period. BNP Paribas Financial Markets raised its position in shares of Northwest Pipe by 216.4% in the 1st 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 in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Northwest Pipe by 3.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 50,831 shares of the industrial products company’s stock valued at $1,763,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC increased 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 acquiring an additional 44,756 shares in the last quarter. Institutional investors own 80.63% of the company’s stock.

Northwest Pipe Company Profile

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.