BidaskClub upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a research report report published on Friday, BidAskClub reports.

A number of other research analysts have also weighed in on the stock. ValuEngine raised shares of Northwest Pipe from a sell rating to a hold rating in a research note on Thursday, August 8th. Zacks Investment Research raised shares of Northwest Pipe from a hold rating to a strong-buy rating and set a $28.00 price objective on the stock in a research note on Friday, August 9th.

NASDAQ NWPX traded up $0.59 on Friday, hitting $26.70. 37,600 shares of the company were exchanged, compared to its average volume of 26,577. The company has a market cap of $260.06 million, a PE ratio of -148.33 and a beta of 0.76. Northwest Pipe has a 12 month low of $16.52 and a 12 month high of $26.80. The stock has a fifty day moving average of $24.60 and a 200-day moving average of $24.58.

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

Institutional investors have recently added to or reduced their stakes in the business. Kennedy Capital Management Inc. lifted its stake in shares of Northwest Pipe by 17.0% in the first quarter. Kennedy Capital Management Inc. now owns 173,708 shares of the industrial products company’s stock valued at $4,169,000 after buying an additional 25,272 shares in the last quarter. Foundry Partners LLC raised its holdings in shares of Northwest Pipe by 1.9% in the second quarter. Foundry Partners LLC now owns 278,670 shares of the industrial products company’s stock valued at $7,184,000 after purchasing an additional 5,150 shares during the last quarter. Bank of America Corp DE raised its holdings 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 valued at $164,000 after purchasing an additional 1,709 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Northwest Pipe by 29.7% in the fourth quarter. Bank of New York Mellon Corp now owns 50,371 shares of the industrial products company’s stock valued at $1,173,000 after purchasing an additional 11,547 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Northwest Pipe by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 102,572 shares of the industrial products company’s stock valued at $2,388,000 after purchasing an additional 7,669 shares during the last quarter. 77.80% of the stock is currently 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.

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