
Northwest Pipe (NWPX) Stock Forecast & Price Target
Northwest Pipe (NWPX) Analyst Ratings
Bulls say
Northwest Pipe Co demonstrated strong financial performance in the third quarter of 2024, with adjusted EBITDA reaching $21.8 million, a significant 57.1% increase from the previous year. Total sales rose by 9.7%, amounting to $130.2 million, driven by a solid 15.8% growth in the Precast segment, which contributed $44.3 million in sales. The company also achieved an operating margin exceeding 11.9%, the highest since the third quarter of 2020, supported by a robust gross margin of 19.4% in the Engineered Steel Pressure Pipe segment.
Bears say
Northwest Pipe Co. exhibited a decline in several key financial metrics, notably with its Engineered Steel Pressure Pipe segment backlog decreasing by 19.0% to $282 million by the end of 3Q24, indicating challenges in securing new orders. Additionally, the company recorded a slight revenue shortfall, resulting in a lowered sales forecast from $120.3 million to $120.0 million, reflecting adjustments to previous predictions based on steel price assumptions. The ongoing difficulty in replacing cancelled or reduced backlog orders raises concerns about future revenue stability and operational performance, contributing to a negative outlook on the company's stock.
This aggregate rating is based on analysts' research of Northwest Pipe and is not a guaranteed prediction by Public.com or investment advice.
Northwest Pipe (NWPX) Analyst Forecast & Price Prediction
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