The Northwest Pipe Co. (NWPX) Cut to “Hold” at Zacks Investment Research

The Northwest Pipe Co. (NWPX) Cut to “Hold” at Zacks Investment Research

Northwest Pipe Co. (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. “

Northwest Pipe (NASDAQ:NWPX) traded up 0.33% during mid-day trading on Wednesday, hitting $12.09. The company’s stock had a trading volume of 13,138 shares. Northwest Pipe has a 12-month low of $7.46 and a 12-month high of $15.52. The firm’s 50-day moving average is $11.80 and its 200-day moving average is $10.53. The company’s market cap is $116.02 million.

10/08/northwest-pipe-co-nwpx-cut-to-hold-at-zacks-investment-research.html

Northwest Pipe (NASDAQ:NWPX) last released its earnings results on Tuesday, August 2nd. The company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.11. The company had revenue of $42.06 million for the quarter, compared to the consensus estimate of $38.15 million. Northwest Pipe had a negative net margin of 17.85% and a negative return on equity of 14.48%. The company’s revenue was down 21.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.71) EPS. Analysts predict that Northwest Pipe will post ($2.89) EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP boosted its stake in shares of Northwest Pipe by 5.2% in the second quarter. Royce & Associates LP now owns 1,290,827 shares of the company’s stock worth $13,915,000 after buying an additional 64,000 shares during the period. Heartland Advisors Inc. boosted its stake in shares of Northwest Pipe by 50.0% in the second quarter. Heartland Advisors Inc. now owns 600,000 shares of the company’s stock worth $6,468,000 after buying an additional 200,000 shares during the period. Adirondack Research & Management Inc. boosted its stake in shares of Northwest Pipe by 15.3% in the second quarter. Adirondack Research & Management Inc. now owns 309,785 shares of the company’s stock worth $3,339,000 after buying an additional 41,120 shares during the period. Franklin Resources Inc. boosted its stake in shares of Northwest Pipe by 21.3% in the second quarter. Franklin Resources Inc. now owns 267,600 shares of the company’s stock worth $2,885,000 after buying an additional 47,000 shares during the period. Finally, Ameriprise Financial Inc. bought a new stake in shares of Northwest Pipe during the second quarter worth approximately $2,368,000. 75.38% of the stock is owned by institutional investors.

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.

Related posts

Leave a Comment