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Northwest Pipe (NASDAQ:NWPX - Get Rating) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.
According to Zacks, "Northwest Pipe Company manufactures welded steel pipe in two business segments. In its Water Transmission business, they are a supplier of large diameter, high-pressure steel pipe used primarily for water transmission. In its Tubular Products business, they manufacture smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications. "
A number of other brokerages also recently weighed in on NWPX. DA Davidson reissued a "buy" rating on shares of Northwest Pipe in a research note on Thursday, March 17th. TheStreet downgraded Northwest Pipe from a "b" rating to a "c+" rating in a research report on Wednesday, March 16th. Finally, StockNews.com downgraded Northwest Pipe from a "hold" rating to a "sell" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $35.50.
NWPX opened at $26.32 on Tuesday. Northwest Pipe has a fifty-two week low of $23.11 and a fifty-two week high of $34.94. The business has a 50-day moving average of $28.98 and a 200-day moving average of $27.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.37 and a quick ratio of 3.42. The company has a market capitalization of $259.80 million, a PE ratio of 22.69 and a beta of 0.88.
Northwest Pipe (NASDAQ:NWPX - Get Rating) last posted its quarterly earnings results on Tuesday, March 15th. The industrial products company reported $0.67 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.56 by $0.11. Northwest Pipe had a return on equity of 5.91% and a net margin of 3.46%. During the same quarter in the prior year, the firm posted $0.57 earnings per share. On average, equities research analysts expect that Northwest Pipe will post 2.63 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Atom Investors LP increased its position in Northwest Pipe by 26.4% in the 3rd quarter. Atom Investors LP now owns 57,415 shares of the industrial products company's stock worth $1,361,000 after buying an additional 12,005 shares during the period. Invesco Ltd. grew its holdings in shares of Northwest Pipe by 13.1% during the 2nd quarter. Invesco Ltd. now owns 125,812 shares of the industrial products company's stock worth $3,554,000 after purchasing an additional 14,568 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Northwest Pipe by 9.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 13,811 shares of the industrial products company's stock worth $390,000 after purchasing an additional 1,135 shares in the last quarter. Barclays PLC grew its holdings in shares of Northwest Pipe by 183.0% during the 3rd quarter. Barclays PLC now owns 3,956 shares of the industrial products company's stock worth $94,000 after purchasing an additional 2,558 shares in the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Northwest Pipe during the 4th quarter worth approximately $92,000. 81.23% of the stock is currently owned by institutional investors.
Northwest Pipe Company Profile (Get Rating)
Northwest Pipe Co operates as a manufacturer of engineered steel pipe water systems in North America. It operates through the Water Infrastructure segment, which produces engineered pipeline systems including steel pipe, reinforced concrete pipe, and protective linings. These pipeline systems are primarily used in water infrastructure including drinking water systems, hydroelectric power systems, wastewater systems, industrial plant piping systems, certain structural applications and other applications.
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