Northwest Pipe Lowered to Neutral at Zacks (NWPX)
Northwest Pipe (NASDAQ:NWPX) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday, American Banking and Market News reports. They currently have a $36.30 price target on the stock. Zacks‘ price target would suggest a potential upside of 14.95% from the stock’s previous close.
Shares of Northwest Pipe (NASDAQ:NWPX) traded up 2.37% on Tuesday, hitting $32.33. The stock had a trading volume of 14,167 shares. Northwest Pipe has a 52 week low of $19.96 and a 52 week high of $34.26. The stock has a 50-day moving average of $30.35 and a 200-day moving average of $28.61. The company has a market cap of $305.5 million and a P/E ratio of 13.00.
Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.35. The company had revenue of $116.70 million for the quarter, compared to the consensus estimate of $119.65 million.
A number of other firms have also recently commented on NWPX. Analysts at DA Davidson reiterated a “buy” rating on shares of Northwest Pipe in a research note to investors on Wednesday, October 2nd. They now have a $42.00 price target on the stock, up previously from $36.00. Analysts at Boenning Scattergood raised their price target on shares of Northwest Pipe from $30.00 to $35.00 in a research note to investors on Wednesday, August 7th. They now have an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.26.
Northwest Pipe Company is a manufacturer of large-diameter, high-pressure steel pipeline systems for use in waters infrastructure applications, primarily related to drinking water systems, and the Company also manufactures other welded steel pipe products for uses in a range of applications, including energy, construction, agriculture, and industrial uses.
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