Zacks: Northwest Pipe (NASDAQ:NWPX) Given Average Rating of “Strong Buy” by Brokerages

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Northwest Pipe (NASDAQ:NWPX) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1 year consensus price objective of $30.00 for the company and are anticipating that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given Northwest Pipe an industry rank of 102 out of 256 based on the ratings given to its competitors.

Separately, ValuEngine lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th.

NASDAQ NWPX traded up $0.23 during trading on Wednesday, reaching $23.69. 652 shares of the stock traded hands, compared to its average volume of 23,313. The company has a market capitalization of $228.38 million, a price-to-earnings ratio of -131.94, a price-to-earnings-growth ratio of 1.40 and a beta of 0.80. Northwest Pipe has a fifty-two week low of $16.52 and a fifty-two week high of $26.48. The firm’s 50-day moving average is $24.88.

Northwest Pipe (NASDAQ:NWPX) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. Northwest Pipe had a net margin of 12.13% and a return on equity of 0.83%. The firm had revenue of $62.64 million for the quarter, compared to the consensus estimate of $55.00 million. On average, research analysts expect that Northwest Pipe will post 1.68 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of 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 buying an additional 37,501 shares during the period. Foundry Partners LLC boosted its stake in shares of Northwest Pipe by 1.9% during the second quarter. Foundry Partners LLC now owns 278,670 shares of the industrial products company’s stock valued at $7,184,000 after purchasing an additional 5,150 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in shares of Northwest Pipe by 21.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 252,684 shares of the industrial products company’s stock valued at $6,064,000 after acquiring an additional 43,859 shares in the last quarter. Kennedy Capital Management Inc. raised its holdings in Northwest Pipe by 17.0% in the first quarter. Kennedy Capital Management Inc. now owns 173,708 shares of the industrial products company’s stock worth $4,169,000 after purchasing an additional 25,272 shares in the last quarter. Finally, Crown Advisors Management Inc. raised its holdings in Northwest Pipe by 58.9% in the first quarter. Crown Advisors Management Inc. now owns 120,000 shares of the industrial products company’s stock worth $2,880,000 after purchasing an additional 44,500 shares in the last quarter. Institutional investors and hedge funds own 78.23% of the company’s stock.

About Northwest Pipe

Northwest Pipe Company manufactures engineered welded 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, water and wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.

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