NWPX Infrastructure (NASDAQ:NWPX) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of NWPX Infrastructure (NASDAQ:NWPX) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research analysts have also recently commented on the company. Weiss Ratings cut NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 19th. DA Davidson lifted their price objective on NWPX Infrastructure from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wall Street Zen raised NWPX Infrastructure from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, NWPX Infrastructure has an average rating of “Buy” and a consensus target price of $90.00.

NWPX Infrastructure Trading Down 1.4%

NASDAQ NWPX opened at $80.96 on Monday. The stock has a market cap of $774.79 million, a P/E ratio of 22.55, a PEG ratio of 1.76 and a beta of 0.92. The company’s fifty day simple moving average is $69.70 and its 200-day simple moving average is $60.48. The company has a current ratio of 3.60, a quick ratio of 2.62 and a debt-to-equity ratio of 0.10. NWPX Infrastructure has a 52 week low of $36.97 and a 52 week high of $83.12.

NWPX Infrastructure (NASDAQ:NWPX) last released its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.31. NWPX Infrastructure had a net margin of 6.73% and a return on equity of 9.35%. The firm had revenue of $125.64 million for the quarter, compared to the consensus estimate of $122.00 million. Equities research analysts predict that NWPX Infrastructure will post 3.32 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael C. Franson sold 5,506 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.17, for a total value of $331,296.02. Following the completion of the sale, the director directly owned 18,525 shares in the company, valued at approximately $1,114,649.25. The trade was a 22.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aaron Wilkins sold 1,241 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $60.10, for a total value of $74,584.10. Following the transaction, the chief financial officer owned 18,512 shares in the company, valued at $1,112,571.20. This trade represents a 6.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 11,791 shares of company stock valued at $708,142. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of NWPX Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NWPX Infrastructure by 2.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 575,365 shares of the industrial products company’s stock valued at $30,453,000 after buying an additional 12,272 shares during the period. Royce & Associates LP lifted its holdings in NWPX Infrastructure by 7.1% in the third quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock worth $28,433,000 after acquiring an additional 35,768 shares during the last quarter. Legal & General Group Plc boosted its stake in NWPX Infrastructure by 14.4% in the second quarter. Legal & General Group Plc now owns 323,819 shares of the industrial products company’s stock valued at $13,280,000 after acquiring an additional 40,751 shares during the period. American Century Companies Inc. boosted its stake in NWPX Infrastructure by 2.6% in the second quarter. American Century Companies Inc. now owns 246,430 shares of the industrial products company’s stock valued at $10,106,000 after acquiring an additional 6,258 shares during the period. Finally, Geode Capital Management LLC boosted its stake in NWPX Infrastructure by 4.9% in 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 acquiring an additional 11,342 shares during the period. 80.63% of the stock is owned by institutional investors and hedge funds.

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.