Northwest Pipe Company (NWPX) Stock Rating Lowered by Zacks Investment Research
Northwest Pipe Company (NASDAQ:NWPX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Northwest Pipe Company manufactures welded steel pipe in two business segments. In its Water Transmission business, they are a supplier of large diameter, high-pressure steel pipe used primarily for water transmission. In its Tubular Products business, they manufacture smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications. “
Shares of Northwest Pipe (NASDAQ:NWPX) opened at 19.39 on Wednesday. The company has a market cap of $186.51 million, a P/E ratio of 340.18 and a beta of 1.30. Northwest Pipe has a one year low of $11.86 and a one year high of $19.69. The company has a 50 day moving average price of $17.51 and a 200 day moving average price of $15.73.
Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.04. Northwest Pipe had a net margin of 0.45% and a negative return on equity of 1.90%. The firm had revenue of $28.69 million during the quarter, compared to analyst estimates of $33.00 million. During the same quarter in the prior year, the business posted ($0.65) earnings per share. The company’s quarterly revenue was down 31.8% compared to the same quarter last year. Equities research analysts expect that Northwest Pipe will post ($0.40) earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in NWPX. Royce & Associates LP raised its holdings in shares of Northwest Pipe by 9.8% in the 1st quarter. Royce & Associates LP now owns 1,193,200 shares of the industrial products company’s stock worth $18,745,000 after buying an additional 106,432 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northwest Pipe by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 806,473 shares of the industrial products company’s stock worth $13,114,000 after buying an additional 15,189 shares during the period. William Blair Investment Management LLC lifted its position in shares of Northwest Pipe by 20.7% during the 2nd quarter. William Blair Investment Management LLC now owns 723,133 shares of the industrial products company’s stock worth $11,758,000 after buying an additional 123,852 shares during the period. Heartland Advisors Inc. lifted its position in shares of Northwest Pipe by 9.2% during the 2nd quarter. Heartland Advisors Inc. now owns 596,400 shares of the industrial products company’s stock worth $9,697,000 after buying an additional 50,000 shares during the period. Finally, D.A. Davidson & CO. lifted its position in shares of Northwest Pipe by 2.7% during the 2nd quarter. D.A. Davidson & CO. now owns 564,097 shares of the industrial products company’s stock worth $9,172,000 after buying an additional 14,731 shares during the period. Institutional investors own 83.41% of the company’s stock.
About Northwest Pipe
Northwest Pipe Company is a manufacturer of engineered steel pipe water systems. The Company operates through two segments. The Water Transmission segment produces steel pipeline systems for use in drinking water infrastructure, and has approximately eight manufacturing facilities, located in Portland, Oregon; Denver, Colorado; Adelanto, California; Parkersburg, West Virginia; Saginaw, Texas; St.
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