Northwest Pipe (NWPX) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a research note issued to investors on Monday morning, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Northwest Pipe from a hold rating to a strong-buy rating and set a $28.00 target price on the stock in a research note on Tuesday, March 19th.

NASDAQ NWPX traded down $0.58 on Monday, hitting $25.25. The stock had a trading volume of 27 shares, compared to its average volume of 36,047. Northwest Pipe has a 52-week low of $16.52 and a 52-week high of $26.48. The stock has a market capitalization of $252.04 million, a PE ratio of -141.25, a P/E/G ratio of 1.54 and a beta of 0.79.

Northwest Pipe (NASDAQ:NWPX) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Northwest Pipe had a net margin of 12.13% and a return on equity of 0.83%. The business had revenue of $62.64 million for the quarter, compared to analysts’ expectations of $55.00 million. On average, analysts forecast that Northwest Pipe will post 1.68 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP bought a new position in shares of Northwest Pipe in the 1st quarter worth $3,609,000. Crown Advisors Management Inc. bought a new position in shares of Northwest Pipe in the 4th quarter worth $1,758,000. Walthausen & Co. LLC bought a new position in shares of Northwest Pipe in the 4th quarter worth $1,626,000. SG Capital Management LLC bought a new position in shares of Northwest Pipe in the 1st quarter worth $1,199,000. Finally, Pacific Ridge Capital Partners LLC increased its holdings in shares of Northwest Pipe by 21.0% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 252,684 shares of the industrial products company’s stock worth $6,064,000 after buying an additional 43,859 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

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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