NWPX Infrastructure (NASDAQ:NWPX) Price Target Raised to $90.00

NWPX Infrastructure (NASDAQ:NWPX) had its target price increased by DA Davidson from $70.00 to $90.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other research firms also recently issued reports on NWPX. Weiss Ratings downgraded 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, February 28th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $90.00.

NWPX Infrastructure Price Performance

NWPX stock opened at $81.87 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.78 and a quick ratio of 2.62. NWPX Infrastructure has a 1 year low of $36.97 and a 1 year high of $83.12. The firm has a 50-day moving average of $70.04 and a 200 day moving average of $60.63. The company has a market cap of $783.50 million, a P/E ratio of 22.81, a PEG ratio of 1.73 and a beta of 0.92.

NWPX Infrastructure (NASDAQ:NWPX) last posted its earnings results on Wednesday, February 25th. The industrial products company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.31. NWPX Infrastructure had a return on equity of 9.27% and a net margin of 6.73%.The firm had revenue of $125.64 million for the quarter, compared to the consensus estimate of $122.00 million. On average, sell-side analysts forecast that NWPX Infrastructure will post 3.32 EPS for the current year.

Insider Transactions at NWPX Infrastructure

In related news, Director Michael C. Franson sold 5,506 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $60.17, for a total value of $331,296.02. Following the transaction, the director owned 18,525 shares in the company, valued at $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 is available at this hyperlink. Also, CFO Aaron Wilkins sold 5,009 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $59.90, for a total transaction of $300,039.10. Following the sale, the chief financial officer owned 19,753 shares of the company’s stock, valued at approximately $1,183,204.70. This represents a 20.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 11,791 shares of company stock worth $708,142. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of NWPX Infrastructure

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

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.