JPMorgan Chase & Co. Has Lowered Expectations for NWPX Infrastructure (NASDAQ:NWPX) Stock Price

NWPX Infrastructure (NASDAQ:NWPX) had its target price lowered by JPMorgan Chase & Co. from $130.00 to $120.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 22.69% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings cut NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Wall Street Zen downgraded NWPX Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.00.

NWPX Infrastructure Price Performance

NWPX stock opened at $97.81 on Friday. The business has a 50 day simple moving average of $103.33 and a 200-day simple moving average of $101.34. NWPX Infrastructure has a twelve month low of $53.15 and a twelve month high of $152.03. The company has a current ratio of 2.56, a quick ratio of 1.84 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $941.91 million, a P/E ratio of 17.88, a PEG ratio of 1.61 and a beta of 1.14.

NWPX Infrastructure (NASDAQ:NWPX) last released its earnings results on Wednesday, October 28th. The industrial products company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.65 by $0.21. The company had revenue of $179.39 million during the quarter, compared to analysts’ expectations of $167.74 million. NWPX Infrastructure had a net margin of 8.87% and a return on equity of 12.99%. As a group, equities analysts anticipate that NWPX Infrastructure will post 5.52 EPS for the current year.

Insider Buying and Selling

In other news, EVP Michael Wray sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $110.94, for a total transaction of $499,230.00. Following the completion of the transaction, the executive vice president directly owned 23,886 shares of the company’s stock, valued at $2,649,912.84. The trade was a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Eric Stokes sold 12,631 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $105.86, for a total transaction of $1,337,117.66. Following the transaction, the senior vice president directly owned 12,643 shares of the company’s stock, valued at $1,338,387.98. This trade represents a 49.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,335 shares of company stock valued at $6,259,631 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of NWPX Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of NWPX Infrastructure during the 2nd quarter worth approximately $135,365,000. Legal & General Group Plc acquired a new stake in NWPX Infrastructure in the second quarter valued at $42,751,000. Heartland Advisors Inc. acquired a new position in NWPX Infrastructure during the second quarter worth approximately $20,992,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of NWPX Infrastructure in the 2nd quarter worth $16,659,000. Finally, Lazard Asset Management LLC boosted its holdings in NWPX Infrastructure by 21.3% during the first quarter. Lazard Asset Management LLC now owns 84,574 shares of the industrial products company’s stock worth $6,585,000 after buying an additional 14,870 shares in the last quarter. Institutional investors own 80.63% of the company’s stock.

About NWPX Infrastructure

NWPX Infrastructure (NASDAQ: NWPX), formerly known as Northwest Pipe Company, is an infrastructure manufacturer focused on products used to transport, store and manage water. The company supplies engineered steel pressure pipe and related systems for municipal water transmission, water treatment, wastewater and other utility applications.

Its product offerings also include precast concrete structures and components used in stormwater management, sanitary sewer systems and other civil infrastructure projects.