Why Northwest Pipe (NWPX) Could Be Positioned for a Surge?
Northwest Pipe Company (NWPX), a metal products manufacturer, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NWPX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Northwest Pipe could be a solid choice for investors.
Current Quarter Estimates for NWPX
In the past 30 days, 1 estimate has gone higher for Northwest Pipe while 1 estimate moved lower in the same time period. The trend has been pretty favorable too, with loss estimates narrowing from a loss of 16 cents per share 30 days ago, to a loss of 5 cents per share today, a move of 68.8%.
Current Year Estimates for NWPX
Meanwhile, Northwest Pipe’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no estimates moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.47 per share 30 days ago to $1.79 per share today, an increase of 21.8%.
Bottom Line
The stock has also started to move higher lately, adding 6.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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NORTHWEST PIPE CO (NWPX): Free Stock Analysis Report
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