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

Wall Street Zen upgraded shares of NWPX Infrastructure (NASDAQ:NWPX) from a hold rating to a buy rating in a report issued on Saturday morning.

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

NWPX Infrastructure Trading Down 2.7%

Shares of NWPX stock traded down $1.61 during trading hours on Friday, hitting $58.95. 56,603 shares of the company were exchanged, compared to its average volume of 68,177. The company has a 50 day simple moving average of $53.54 and a two-hundred day simple moving average of $46.40. The firm has a market cap of $566.51 million, a P/E ratio of 16.02, a P/E/G ratio of 1.64 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.81 and a current ratio of 3.95. NWPX Infrastructure has a fifty-two week low of $36.97 and a fifty-two week high of $63.98.

NWPX Infrastructure (NASDAQ:NWPX) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.36. The business had revenue of $151.07 million for the quarter, compared to analyst estimates of $132.01 million. NWPX Infrastructure had a net margin of 7.04% and a return on equity of 9.71%. Equities analysts anticipate that NWPX Infrastructure will post 3.32 EPS for the current year.

Insider Buying and Selling

In other news, VP Megan A. Kendrick sold 3,500 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $175,000.00. Following the completion of the sale, the vice president directly owned 10,560 shares of the company’s stock, valued at $528,000. This represents a 24.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aaron Wilkins sold 2,000 shares of NWPX Infrastructure stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 24,762 shares in the company, valued at approximately $1,293,566.88. The trade was a 7.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,500 shares of company stock valued at $433,715 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of NWPX Infrastructure

Several institutional investors have recently made changes to their positions in NWPX. State of Alaska Department of Revenue purchased a new stake in shares of NWPX Infrastructure in the third quarter valued at about $28,000. CWM LLC increased its stake in 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 last quarter. SG Americas Securities LLC purchased a new stake in NWPX Infrastructure in the 3rd quarter valued at about $128,000. Byrne Asset Management LLC lifted its position in shares of 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 worth $118,000 after buying an additional 482 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of NWPX Infrastructure during the 2nd quarter worth approximately $163,000. 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.