NWPX Infrastructure (NASDAQ:NWPX) Shares Gap Up After Analyst Upgrade

NWPX Infrastructure, Inc. (NASDAQ:NWPX) shares gapped up before the market opened on Tuesday after DA Davidson raised their price target on the stock from $70.00 to $90.00. The stock had previously closed at $77.60, but opened at $80.40. DA Davidson currently has a buy rating on the stock. NWPX Infrastructure shares last traded at $78.7310, with a volume of 9,830 shares trading hands.

A number of other brokerages have also commented on NWPX. Weiss Ratings lowered NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 19th. Wall Street Zen upgraded shares of NWPX Infrastructure from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $90.00.

Insider Buying and Selling

In other NWPX Infrastructure news, Director Michael C. Franson sold 5,506 shares of NWPX Infrastructure stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.17, for a total value of $331,296.02. Following the completion of the transaction, the director owned 18,525 shares in the company, valued at approximately $1,114,649.25. The trade was a 22.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aaron Wilkins sold 1,241 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $60.10, for a total transaction of $74,584.10. Following the transaction, the chief financial officer owned 18,512 shares in the company, valued at approximately $1,112,571.20. This trade represents a 6.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,791 shares of company stock worth $708,142. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NWPX Infrastructure

Several institutional investors have recently modified their holdings of NWPX. SummerHaven Investment Management LLC acquired a new position in NWPX Infrastructure during the third quarter valued at approximately $1,053,000. Brandywine Global Investment Management LLC boosted its position in shares of NWPX Infrastructure by 17.0% during the second quarter. Brandywine Global Investment Management LLC now owns 42,438 shares of the industrial products company’s stock worth $1,740,000 after purchasing an additional 6,180 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of NWPX Infrastructure by 67.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 85,527 shares of the industrial products company’s stock valued at $4,527,000 after buying an additional 34,526 shares during the period. LSV Asset Management bought a new stake in shares of NWPX Infrastructure in the 2nd quarter valued at $1,066,000. Finally, Geode Capital Management LLC grew its stake in NWPX Infrastructure by 4.9% in the second quarter. Geode Capital Management LLC now owns 240,631 shares of the industrial products company’s stock valued at $9,870,000 after acquiring an additional 11,342 shares during the period. 80.63% of the stock is currently owned by institutional investors and hedge funds.

NWPX Infrastructure Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 3.60 and a quick ratio of 2.62. The company has a market cap of $757.32 million, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.82 and a beta of 0.92. The stock has a 50-day moving average price of $69.37 and a 200 day moving average price of $60.27.

NWPX Infrastructure (NASDAQ:NWPX) last posted its earnings results on Wednesday, February 25th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.31. NWPX Infrastructure had a return on equity of 9.35% and a net margin of 6.73%.The business had revenue of $125.64 million during the quarter, compared to analysts’ expectations of $122.00 million. As a group, analysts anticipate that NWPX Infrastructure, Inc. will post 3.32 EPS for the current fiscal year.

NWPX Infrastructure Company Profile

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.