Northwest Pipe (NASDAQ:NWPX) Hits New 12-Month High – Here’s What Happened

Northwest Pipe (NASDAQ:NWPX) shares reached a new 52-week high on Thursday . The stock traded as high as $55.23 and last traded at $55.15, with a volume of 5579 shares changing hands. The stock had previously closed at $54.14.

Analysts Set New Price Targets

Several analysts have commented on NWPX shares. Northland Securities lowered shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective on the stock. in a research report on Friday, November 1st. StockNews.com raised shares of Northwest Pipe from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Finally, Northland Capmk downgraded Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Northwest Pipe Stock Up 2.0 %

The stock’s 50 day moving average is $46.72 and its 200 day moving average is $40.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. The company has a market capitalization of $558.40 million, a PE ratio of 19.15, a PEG ratio of 3.33 and a beta of 0.98.

Insider Activity at Northwest Pipe

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction dated 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 directly owns 9,725 shares in the company, valued at $430,039.50. This represents a 9.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Miles Brittain sold 4,500 shares of Northwest Pipe stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $41.90, for a total value of $188,550.00. Following the sale, the executive vice president now owns 25,858 shares of the company’s stock, valued at approximately $1,083,450.20. This trade represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,800 shares of company stock worth $291,070. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northwest Pipe

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in shares of Northwest Pipe by 1,857.6% in the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 613 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Northwest Pipe during the third quarter valued at about $67,000. Lazard Asset Management LLC purchased a new position in shares of Northwest Pipe in the first quarter worth about $95,000. SG Americas Securities LLC bought a new stake in shares of Northwest Pipe in the 3rd quarter valued at about $165,000. Finally, Semanteon Capital Management LP purchased a new stake in Northwest Pipe during the 3rd quarter valued at about $230,000. 80.63% of the stock is owned by hedge funds and other institutional investors.

Northwest Pipe Company Profile

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.