Zacks Investment Research Downgrades Northwest Pipe Co. (NWPX) to Hold
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 12.18 on Wednesday. The stock’s market capitalization is $116.88 million. The stock has a 50 day moving average price of $11.81 and a 200-day moving average price of $10.56. Northwest Pipe has a 52-week low of $7.46 and a 52-week high of $15.44.
Northwest Pipe (NASDAQ:NWPX) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.65) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.11. Northwest Pipe had a negative return on equity of 14.48% and a negative net margin of 17.85%. The firm had revenue of $42.06 million for the quarter, compared to analyst estimates of $38.15 million. During the same quarter last year, the company posted ($0.71) earnings per share. The business’s revenue was down 21.9% on a year-over-year basis. On average, equities research analysts predict that Northwest Pipe will post ($2.89) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Oxford Asset Management acquired a new stake in shares of Northwest Pipe during the second quarter worth $156,000. Emerald Acquisition Ltd. acquired a new stake in shares of Northwest Pipe during the second quarter worth $169,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Northwest Pipe during the first quarter worth $250,000. Mackenzie Financial Corp acquired a new stake in shares of Northwest Pipe during the second quarter worth $286,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Northwest Pipe during the second quarter worth $411,000. 75.38% of the stock is currently owned by institutional investors.
Northwest Pipe Company Profile
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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