NWPX Infrastructure (NASDAQ:NWPX) Price Target Cut to $120.00 by Analysts at JPMorgan Chase & Co.

NWPX Infrastructure (NASDAQ:NWPX) had its price objective decreased by JPMorgan Chase & Co. from $130.00 to $120.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Several other research firms have also weighed in on NWPX. Weiss Ratings lowered shares of NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Wall Street Zen cut NWPX Infrastructure from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $105.00.

NWPX Infrastructure Stock Performance

Shares of NWPX opened at $97.81 on Friday. The stock’s 50-day moving average price is $103.33 and its 200 day moving average price is $101.34. The company has a quick ratio of 1.84, a current ratio of 2.56 and a debt-to-equity ratio of 0.06. NWPX Infrastructure has a 12-month low of $53.15 and a 12-month high of $152.03. The firm has a market capitalization of $941.91 million, a price-to-earnings ratio of 17.88, a P/E/G ratio of 1.61 and a beta of 1.14.

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

Insider Transactions at NWPX Infrastructure

In other news, Director Michael Franson sold 3,500 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $105.30, for a total transaction of $368,550.00. Following the completion of the sale, the director owned 15,924 shares in the company, valued at $1,676,797.20. The trade was a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Eric Stokes sold 12,631 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $105.86, for a total value of $1,337,117.66. Following the transaction, the senior vice president directly owned 12,643 shares in the company, 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 a total of 58,335 shares of company stock valued at $6,259,631 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On NWPX Infrastructure

Several institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new stake in NWPX Infrastructure during the 2nd quarter worth $41,000. Covestor Ltd boosted its position in shares of NWPX Infrastructure by 107.5% in the 3rd quarter. Covestor Ltd now owns 583 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 302 shares during the last quarter. State of Wyoming acquired a new stake in shares of NWPX Infrastructure during the second quarter worth $98,000. Central Pacific Bank Trust Division bought a new stake in NWPX Infrastructure in the second quarter valued at about $156,000. Finally, Quantbot Technologies LP acquired a new position in NWPX Infrastructure in the second quarter valued at about $197,000. Institutional investors and hedge funds 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.