Northwest Pipe (NWPX) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a report published on Friday.

Separately, Zacks Investment Research lowered Northwest Pipe from a hold rating to a strong sell rating in a research report on Thursday, August 9th.

Shares of NWPX opened at $20.35 on Friday. Northwest Pipe has a 52 week low of $16.60 and a 52 week high of $22.00. The firm has a market capitalization of $202.88 million, a PE ratio of -32.00 and a beta of 1.08.

Northwest Pipe (NASDAQ:NWPX) last announced its quarterly earnings results on Thursday, August 2nd. The industrial products company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.33). Northwest Pipe had a negative net margin of 8.68% and a negative return on equity of 4.67%. The firm had revenue of $28.79 million during the quarter, compared to the consensus estimate of $33.50 million. sell-side analysts predict that Northwest Pipe will post -0.32 earnings per share for the current fiscal year.

In related news, Director Michelle Galanter Applebaum bought 3,604 shares of the stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average cost of $17.97 per share, with a total value of $64,763.88. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $359,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. US Bancorp DE bought a new position in shares of Northwest Pipe in the 1st quarter worth about $167,000. NJ State Employees Deferred Compensation Plan raised its position in shares of Northwest Pipe by 31.6% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 25,000 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 6,000 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Northwest Pipe by 161.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 26,776 shares of the industrial products company’s stock worth $519,000 after acquiring an additional 16,529 shares in the last quarter. Ancora Advisors LLC raised its position in shares of Northwest Pipe by 13.5% in the 1st quarter. Ancora Advisors LLC now owns 85,619 shares of the industrial products company’s stock worth $1,481,000 after acquiring an additional 10,203 shares in the last quarter. Finally, Quantum Capital Management raised its position in shares of Northwest Pipe by 5.3% in the 2nd quarter. Quantum Capital Management now owns 102,614 shares of the industrial products company’s stock worth $1,988,000 after acquiring an additional 5,208 shares in the last quarter. 86.72% of the stock is owned by institutional investors and hedge funds.

Northwest Pipe Company Profile

Northwest Pipe Company manufactures engineered 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, wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.

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