Analysts Issue Forecasts for Northwest Pipe’s Q2 2024 Earnings (NASDAQ:NWPX)

Northwest Pipe (NASDAQ:NWPX) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Northwest Pipe in a research note issued on Friday, May 3rd. DA Davidson analyst B. Thielman anticipates that the industrial products company will post earnings per share of $0.61 for the quarter. DA Davidson has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Northwest Pipe’s current full-year earnings is $2.31 per share. DA Davidson also issued estimates for Northwest Pipe’s FY2025 earnings at $3.00 EPS.

Several other analysts have also recently issued reports on the stock. TheStreet upgraded shares of Northwest Pipe from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. StockNews.com downgraded Northwest Pipe from a “buy” rating to a “hold” rating in a report on Friday.

Northwest Pipe Stock Performance

NASDAQ NWPX opened at $32.72 on Monday. Northwest Pipe has a twelve month low of $25.58 and a twelve month high of $35.32. The business has a 50-day moving average price of $32.80 and a 200-day moving average price of $29.99. The company has a quick ratio of 1.88, a current ratio of 2.83 and a debt-to-equity ratio of 0.16. The firm has a market cap of $324.58 million, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97.

Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.18. Northwest Pipe had a return on equity of 7.16% and a net margin of 5.22%. The firm had revenue of $113.22 million during the quarter, compared to analysts’ expectations of $103.20 million. During the same quarter in the previous year, the business earned $0.23 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its position in Northwest Pipe by 35.2% in the third quarter. Barclays PLC now owns 2,657 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 692 shares during the period. Byrne Asset Management LLC increased its holdings in shares of Northwest Pipe by 17.3% in the 4th quarter. Byrne Asset Management LLC now owns 2,850 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 420 shares during the period. Global Retirement Partners LLC boosted its stake in Northwest Pipe by 48.9% during the 4th quarter. Global Retirement Partners LLC now owns 3,110 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 1,022 shares during the period. SG Americas Securities LLC boosted its stake in shares of Northwest Pipe by 20.4% during the fourth quarter. SG Americas Securities LLC now owns 5,378 shares of the industrial products company’s stock worth $163,000 after buying an additional 912 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Northwest Pipe by 6.8% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 7,188 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 457 shares during the period. 80.63% of the stock is owned by hedge funds and other institutional investors.

About Northwest Pipe

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.