Northwest Pipe (NWPX) Receives Average Rating of “Strong Buy” from Brokerages

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Shares of Northwest Pipe (NASDAQ:NWPX) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price objective of $26.00 for the company and are expecting that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also given Northwest Pipe an industry rank of 222 out of 255 based on the ratings given to related companies.

A number of equities analysts have recently commented on NWPX shares. ValuEngine raised shares of Northwest Pipe from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Zacks Investment Research raised shares of Northwest Pipe from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 4th.

Shares of NASDAQ:NWPX opened at $19.58 on Friday. The company has a market cap of $192.27 million, a PE ratio of -30.12 and a beta of 1.00. Northwest Pipe has a one year low of $16.60 and a one year high of $22.00.

Northwest Pipe (NASDAQ:NWPX) last issued its 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). The company had revenue of $28.79 million for the quarter, compared to analysts’ expectations of $33.50 million. Northwest Pipe had a negative return on equity of 4.67% and a negative net margin of 8.68%. As a group, research analysts anticipate that Northwest Pipe will post -0.32 EPS for the current year.

In other Northwest Pipe news, Director Michelle Galanter Applebaum acquired 3,604 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average cost of $17.97 per share, with a total value of $64,763.88. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $359,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. NJ State Employees Deferred Compensation Plan increased its holdings in Northwest Pipe by 31.6% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 25,000 shares of the industrial products company’s stock valued at $484,000 after buying an additional 6,000 shares during the period. Advisors Asset Management Inc. increased its holdings in Northwest Pipe by 161.3% during the second quarter. Advisors Asset Management Inc. now owns 26,776 shares of the industrial products company’s stock valued at $519,000 after buying an additional 16,529 shares during the period. Ancora Advisors LLC increased its holdings in Northwest Pipe by 13.5% during the first quarter. Ancora Advisors LLC now owns 85,619 shares of the industrial products company’s stock valued at $1,481,000 after buying an additional 10,203 shares during the period. Quantum Capital Management increased its holdings in Northwest Pipe by 5.3% during the second quarter. Quantum Capital Management now owns 102,614 shares of the industrial products company’s stock valued at $1,988,000 after buying an additional 5,208 shares during the period. Finally, Foundry Partners LLC increased its holdings in Northwest Pipe by 2.7% during the first quarter. Foundry Partners LLC now owns 267,725 shares of the industrial products company’s stock valued at $4,632,000 after buying an additional 7,100 shares during the period. 86.72% of the stock is currently owned by institutional investors.

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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