Zacks: Northwest Pipe (NWPX) Receives Consensus Recommendation of “Strong Buy” from Analysts

Northwest Pipe (NASDAQ:NWPX) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus target price of $30.00 for the company and are predicting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given Northwest Pipe an industry rank of 177 out of 256 based on the ratings given to related companies.

Several research analysts have recently issued reports on the company. ValuEngine lowered Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Zacks Investment Research raised Northwest Pipe from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Tuesday, March 19th.

Shares of NASDAQ:NWPX traded up $0.15 during trading on Friday, hitting $24.40. The stock had a trading volume of 12,009 shares, compared to its average volume of 42,851. Northwest Pipe has a 12 month low of $16.52 and a 12 month high of $26.48. The firm has a market capitalization of $237.53 million, a P/E ratio of -135.56, a P/E/G ratio of 1.50 and a beta of 0.79.

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

Large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of Northwest Pipe by 551.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,025 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,714 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Northwest Pipe in the 4th quarter worth approximately $77,000. MetLife Investment Advisors LLC purchased a new stake in shares of Northwest Pipe in the 4th quarter worth approximately $106,000. Bessemer Group Inc. purchased a new stake in shares of Northwest Pipe in the 4th quarter worth approximately $109,000. Finally, Bank of America Corp DE grew its stake in shares of Northwest Pipe by 32.1% in the 4th quarter. Bank of America Corp DE now owns 7,029 shares of the industrial products company’s stock worth $164,000 after buying an additional 1,709 shares during the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Northwest Pipe Company Profile

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.

Featured Story: Hedge Funds

Get a free copy of the Zacks research report on Northwest Pipe (NWPX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Northwest Pipe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Pipe and related companies with MarketBeat.com's FREE daily email newsletter.