NWPX Infrastructure (NASDAQ:NWPX) Raised to Buy at Wall Street Zen

NWPX Infrastructure (NASDAQ:NWPX) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other research analysts also recently issued reports about the company. Northland Capmk raised NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. DA Davidson increased their target price on shares of NWPX Infrastructure from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NWPX Infrastructure in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NWPX Infrastructure currently has an average rating of “Moderate Buy” and a consensus price target of $62.50.

NWPX Infrastructure Trading Down 2.7%

NWPX stock opened at $58.95 on Friday. The company has a current ratio of 3.95, a quick ratio of 2.81 and a debt-to-equity ratio of 0.11. NWPX Infrastructure has a 12-month low of $36.97 and a 12-month high of $63.98. The stock has a market cap of $566.51 million, a price-to-earnings ratio of 16.02, a PEG ratio of 1.64 and a beta of 0.91. The business’s 50-day moving average is $53.54 and its 200 day moving average is $46.37.

NWPX Infrastructure (NASDAQ:NWPX) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.36. The business had revenue of $151.07 million during the quarter, compared to analysts’ expectations of $132.01 million. NWPX Infrastructure had a return on equity of 9.71% and a net margin of 7.04%. On average, sell-side analysts anticipate that NWPX Infrastructure will post 3.32 EPS for the current fiscal year.

Insider Activity at NWPX Infrastructure

In other NWPX Infrastructure news, VP Megan A. Kendrick sold 3,500 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $50.00, for a total transaction of $175,000.00. Following the completion of the sale, the vice president owned 10,560 shares of the company’s stock, valued at $528,000. This trade represents a 24.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Wilkins sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $52.24, for a total value of $104,480.00. Following the completion of the transaction, the chief financial officer directly owned 24,762 shares in the company, valued at approximately $1,293,566.88. This trade represents a 7.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 8,500 shares of company stock worth $433,715. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On NWPX Infrastructure

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in NWPX Infrastructure in the third quarter valued at approximately $28,000. CWM LLC raised its holdings in shares of NWPX Infrastructure by 75.8% in the 3rd quarter. CWM LLC now owns 582 shares of the industrial products company’s stock valued at $31,000 after buying an additional 251 shares during the period. SG Americas Securities LLC acquired a new position in NWPX Infrastructure during the 3rd quarter worth about $128,000. Byrne Asset Management LLC boosted its holdings in NWPX Infrastructure by 20.1% during the 2nd quarter. Byrne Asset Management LLC now owns 2,883 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 482 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in NWPX Infrastructure in the 2nd quarter valued at about $163,000. Hedge funds and other institutional investors 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.