Wall Street Zen Downgrades NWPX Infrastructure (NASDAQ:NWPX) to Buy

NWPX Infrastructure (NASDAQ:NWPX) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. Zacks Research cut shares of NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. assumed coverage on NWPX Infrastructure in a research report on Wednesday. They set a “neutral” rating and a $130.00 price objective on the stock. Finally, DA Davidson boosted their price objective on NWPX Infrastructure from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.00.

NWPX Infrastructure Trading Down 0.3%

NWPX opened at $128.85 on Friday. The company’s 50 day moving average is $102.52 and its 200-day moving average is $80.66. NWPX Infrastructure has a 1-year low of $38.38 and a 1-year high of $133.80. The company has a current ratio of 2.68, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.24 billion, a P/E ratio of 30.11, a PEG ratio of 2.38 and a beta of 1.10.

NWPX Infrastructure (NASDAQ:NWPX) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.40. The business had revenue of $138.25 million during the quarter, compared to analysts’ expectations of $125.10 million. NWPX Infrastructure had a net margin of 7.66% and a return on equity of 10.80%. Equities research analysts predict that NWPX Infrastructure will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Miles Brittain sold 3,300 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $70.89, for a total transaction of $233,937.00. Following the completion of the transaction, the executive vice president directly owned 20,006 shares of the company’s stock, valued at $1,418,225.34. This trade represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amanda Julian sold 3,473 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $71.98, for a total value of $249,986.54. Following the transaction, the director directly owned 10,417 shares of the company’s stock, valued at approximately $749,815.66. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,273 shares of company stock valued at $662,524 in the last three months. Insiders own 3.30% of the company’s stock.

Institutional Trading of NWPX Infrastructure

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in NWPX Infrastructure by 19.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 101,961 shares of the industrial products company’s stock valued at $6,372,000 after purchasing an additional 16,434 shares during the period. LSV Asset Management increased its position in NWPX Infrastructure by 166.9% during the 3rd quarter. LSV Asset Management now owns 69,400 shares of the industrial products company’s stock valued at $3,673,000 after purchasing an additional 43,398 shares during the period. Legal & General Group Plc increased its position in NWPX Infrastructure by 3.3% during the 4th quarter. Legal & General Group Plc now owns 200,985 shares of the industrial products company’s stock valued at $12,560,000 after purchasing an additional 6,440 shares during the period. Ellsworth Advisors LLC acquired a new stake in NWPX Infrastructure during the 4th quarter valued at approximately $1,031,000. Finally, Royce & Associates LP increased its position in NWPX Infrastructure by 7.1% during the 3rd quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock valued at $28,433,000 after purchasing an additional 35,768 shares during the period. Institutional investors and hedge funds own 80.63% of the company’s stock.

About NWPX Infrastructure

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. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.