Shares of Northwest Pipe Company (NASDAQ:NWPX) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation. Northwest Pipe’s rating score has improved by 50% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a twelve-month consensus price objective of $26.00 for the company and are predicting that the company will post ($0.12) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Northwest Pipe an industry rank of 235 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th.
Northwest Pipe (NASDAQ:NWPX) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.09). The firm had revenue of $38.80 million during the quarter, compared to the consensus estimate of $40.00 million. Northwest Pipe had a negative return on equity of 3.03% and a negative net margin of 1.59%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. analysts expect that Northwest Pipe will post -0.9 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its stake in Northwest Pipe by 26,137.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,183 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 9,148 shares during the period. New York State Common Retirement Fund bought a new position in Northwest Pipe during the 2nd quarter valued at about $166,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Northwest Pipe during the 3rd quarter valued at about $169,000. Smith Moore & CO. bought a new position in Northwest Pipe during the 3rd quarter valued at about $190,000. Finally, Royal Bank of Canada lifted its stake in Northwest Pipe by 89.4% during the 2nd quarter. Royal Bank of Canada now owns 12,500 shares of the industrial products company’s stock valued at $204,000 after acquiring an additional 5,900 shares during the period. Institutional investors and hedge funds own 86.33% of the company’s stock.
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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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