Price Action Don’t Lie: Does Northwest Pipe Company Have More Gas After Reaching 52-Week High?

Price Action Don't Lie: Does Northwest Pipe Company Have More Gas After Reaching 52 Week High?

The stock of Northwest Pipe Company (NASDAQ:NWPX) hit a new 52-week high and has $19.86 target or 7.00% above today’s $18.56 share price. The 6 months bullish chart indicates low risk for the $186.54 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $19.86 price target is reached, the company will be worth $13.06M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 72,130 shares traded hands or 47.80% up from the average. Northwest Pipe Company (NASDAQ:NWPX) has risen 98.41% since April 25, 2016 and is uptrending. It has outperformed by 92.40% the S&P500.

Analysts await Northwest Pipe Company (NASDAQ:NWPX) to report earnings on March, 7. They expect $-0.44 EPS, up 69.23% or $0.99 from last year’s $-1.43 per share. After $0.08 actual EPS reported by Northwest Pipe Company for the previous quarter, Wall Street now forecasts -650.00% negative EPS growth.

Northwest Pipe Company (NASDAQ:NWPX) Ratings Coverage

Out of 2 analysts covering Northwest Pipe Company (NASDAQ:NWPX), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Northwest Pipe Company has been the topic of 3 analyst reports since August 7, 2015 according to StockzIntelligence Inc.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 0.9 in Q2 2016. Its up 0.38, from 0.52 in 2016Q1. The ratio increased, as 21 funds sold all Northwest Pipe Company shares owned while 27 reduced positions. 11 funds bought stakes while 14 increased positions. They now own 6.57 million shares or 5.41% less from 6.94 million shares in 2016Q1.
Franklin Resources has invested 0% of its portfolio in Northwest Pipe Company (NASDAQ:NWPX). Geode Capital Ltd has 56,009 shares for 0% of their US portfolio. The New York-based D E Shaw And Co Inc has invested 0% in Northwest Pipe Company (NASDAQ:NWPX). Deutsche Bancorp Ag holds 0% of its portfolio in Northwest Pipe Company (NASDAQ:NWPX) for 19,504 shares. Barclays Plc last reported 0% of its portfolio in the stock. Bankshares Of America De, a North Carolina-based fund reported 3,330 shares. The New York-based Citigroup Inc has invested 0% in Northwest Pipe Company (NASDAQ:NWPX). Mark Sheptoff Fin Planning Ltd owns 50 shares or 0% of their US portfolio. Raymond James Financial Ser Advsrs accumulated 0% or 26,254 shares. The California-based Clarivest Asset Limited has invested 0% in Northwest Pipe Company (NASDAQ:NWPX). Manufacturers Life Insur Communications The has 100 shares for 0% of their US portfolio. First Tru Advsrs L P has 0.01% invested in the company for 253,796 shares. Blackrock Fund Advsrs last reported 0% of its portfolio in the stock. The New Jersey-based Blackrock Invest Management Limited Com has invested 0% in Northwest Pipe Company (NASDAQ:NWPX). Vanguard Grp Inc reported 361,931 shares or 0% of all its holdings.

More recent Northwest Pipe Company (NASDAQ:NWPX) news were published by: Denverpost.com which released: “Northwest Pipe Company closing Denver plant, laying off 65 workers” on July 19, 2016. Also Seekingalpha.com published the news titled: “Northwest Pipe Company – A Classic Walter Schloss Stock” on September 04, 2015. Bizjournals.com‘s news article titled: “Pipe company to close Denver manufacturing plant” with publication date: July 13, 2016 was also an interesting one.

NWPX Company Profile

Northwest Pipe Company, incorporated on March 31, 1966, is a maker of engineered steel pipe water systems in North America. The Firm operates through two divisions: Water Transmission and Tubular Products. The Water Transmission segment produces steel pipeline systems for use in drinking water infrastructure, and has approximately eight manufacturing facilities. The Tubular Products segment produces steel line pipe products for energy applications, and has a manufacturing facility located in Atchison, Kansas. The Company, through Water Transmission Group, produces engineered welded steel pipe products for use in water transmission applications. It also makes smaller diameter electric resistance welded (ERW) steel pipe through its Tubular Products Group. The Company’s smaller diameter pipe is used for applications in the energy sector, as well as for structural, commercial and industrial uses. It serves a range of markets and its solutions products are used in applications, including water transmission, plant piping, tunnels and river crossings.

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