Northwest Pipe (NWPX) Cut to Hold at ValuEngine
Northwest Pipe (NASDAQ:NWPX) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Separately, Zacks Investment Research upgraded Northwest Pipe from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Tuesday.
NASDAQ NWPX opened at $24.75 on Wednesday. The firm has a market cap of $241.53 million, a P/E ratio of -137.50, a P/E/G ratio of 1.59 and a beta of 0.81. The company has a current ratio of 5.07, a quick ratio of 3.95 and a debt-to-equity ratio of 0.06. Northwest Pipe has a fifty-two week low of $16.52 and a fifty-two week high of $25.98.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWPX. Crown Advisors Management Inc. purchased a new position in Northwest Pipe during the fourth quarter valued at $1,758,000. Walthausen & Co. LLC purchased a new position in Northwest Pipe during the fourth quarter valued at $1,626,000. BlackRock Inc. lifted its position in Northwest Pipe by 5.5% during the fourth quarter. BlackRock Inc. now owns 714,521 shares of the industrial products company’s stock valued at $16,641,000 after purchasing an additional 37,501 shares in the last quarter. Royce & Associates LP lifted its position in Northwest Pipe by 2.1% during the third quarter. Royce & Associates LP now owns 1,445,590 shares of the industrial products company’s stock valued at $28,550,000 after purchasing an additional 30,135 shares in the last quarter. Finally, Oberweis Asset Management Inc. purchased a new position in Northwest Pipe during the fourth quarter valued at $636,000. Institutional investors own 80.91% of the company’s stock.
Northwest Pipe Company Profile
Northwest Pipe Company manufactures engineered 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, wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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