Northwest Pipe (NASDAQ:NWPX) Price Target Raised to $55.00 at Northland Securities

Northwest Pipe (NASDAQ:NWPX) had its price objective boosted by stock analysts at Northland Securities from $50.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the industrial products company’s stock. Northland Securities’ target price would suggest a potential upside of 17.77% from the company’s current price.

NWPX has been the subject of a number of other research reports. StockNews.com cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Northland Capmk downgraded Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.50.

Northwest Pipe Trading Down 1.6 %

NASDAQ NWPX opened at $46.70 on Friday. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $51.93 and a 200-day moving average of $44.15. Northwest Pipe has a 12 month low of $27.89 and a 12 month high of $57.76. The company has a market cap of $463.22 million, a PE ratio of 15.88, a PEG ratio of 3.19 and a beta of 1.02.

Insiders Place Their Bets

In related news, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the transaction, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Northwest Pipe

Institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Northwest Pipe by 3.1% in the third quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company’s stock worth $819,000 after acquiring an additional 549 shares during the last quarter. Covestor Ltd lifted its stake in Northwest Pipe by 1,857.6% in the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 613 shares during the last quarter. Ellsworth Advisors LLC lifted its stake in Northwest Pipe by 4.2% in the 3rd quarter. Ellsworth Advisors LLC now owns 16,207 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 647 shares during the last quarter. Stifel Financial Corp boosted its position in Northwest Pipe by 6.2% in the third quarter. Stifel Financial Corp now owns 13,202 shares of the industrial products company’s stock valued at $596,000 after buying an additional 766 shares in the last quarter. Finally, Foundry Partners LLC grew its stake in shares of Northwest Pipe by 0.8% during the second quarter. Foundry Partners LLC now owns 175,945 shares of the industrial products company’s stock worth $5,977,000 after buying an additional 1,340 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.

About Northwest Pipe

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.