BidaskClub Upgrades Northwest Pipe (NASDAQ:NWPX) to Buy

Northwest Pipe (NASDAQ:NWPX) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Northwest Pipe from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Friday, August 9th. ValuEngine upgraded shares of Northwest Pipe from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

Shares of NWPX opened at $26.11 on Friday. Northwest Pipe has a one year low of $16.52 and a one year high of $26.71. The company has a market cap of $253.95 million, a P/E ratio of -145.06 and a beta of 0.76. The firm has a 50 day simple moving average of $24.56 and a two-hundred day simple moving average of $24.57.

Northwest Pipe (NASDAQ:NWPX) last announced its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.08). Northwest Pipe had a net margin of 13.68% and a return on equity of 4.45%. The firm had revenue of $69.20 million for the quarter, compared to analyst estimates of $62.00 million. Equities analysts expect that Northwest Pipe will post 1.51 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its stake in shares of Northwest Pipe by 551.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,025 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,714 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of Northwest Pipe in the fourth quarter worth $77,000. MetLife Investment Advisors LLC bought a new stake in shares of Northwest Pipe in the fourth quarter worth $106,000. Bank of America Corp DE grew its stake in shares of Northwest Pipe by 32.1% in the fourth quarter. Bank of America Corp DE now owns 7,029 shares of the industrial products company’s stock worth $164,000 after purchasing an additional 1,709 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in shares of Northwest Pipe in the second quarter worth $186,000. 77.80% of the stock is currently owned by hedge funds and other institutional investors.

About Northwest Pipe

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

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