Jefferies Reports NWPX 4Q Loss

Jefferies has reported a fourth quarter loss of $0.19 for Northwest Pipe NWPX. Jefferies writes, "4Q's results were very weak owing to volume and pricing weakness in WT. But these sales may be stabilizing. Meanwhile, TP results were strong on the back of capital spending in the energy markets, and we expect this to continue. So overall we believe the earnings outlook has improved, if modestly." NWPX has a Hold Rating and a $24.00 Price Target. NWPX sold for $23.25 at closing yesterday.