NWPX Infrastructure (NASDAQ:NWPX) Stock Price Down 4.4% – Here’s Why

NWPX Infrastructure, Inc. (NASDAQ:NWPX) shares dropped 4.4% on Tuesday . The company traded as low as $133.78 and last traded at $130.1650. Approximately 14,443 shares changed hands during trading, a decline of 90% from the average session volume of 140,117 shares. The stock had previously closed at $136.18.

Wall Street Analysts Forecast Growth

NWPX has been the topic of several research reports. Zacks Research downgraded shares of NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. assumed coverage on shares of NWPX Infrastructure in a research report on Wednesday, June 10th. They set a “neutral” rating and a $130.00 price target on the stock. Wall Street Zen cut shares of NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised shares of NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, NWPX Infrastructure presently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

NWPX Infrastructure Stock Performance

The stock has a market cap of $1.29 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. The company has a current ratio of 2.68, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $129.37 and a 200 day simple moving average of $96.02.

NWPX Infrastructure (NASDAQ:NWPX) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.40. The firm had revenue of $138.25 million during the quarter, compared to the consensus estimate of $125.10 million. NWPX Infrastructure had a return on equity of 10.80% and a net margin of 7.66%. On average, equities analysts expect that NWPX Infrastructure, Inc. will post 4.97 earnings per share for the current year.

Institutional Investors Weigh In On NWPX Infrastructure

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of NWPX Infrastructure by 19.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 101,961 shares of the industrial products company’s stock valued at $6,372,000 after purchasing an additional 16,434 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of NWPX Infrastructure by 3.3% during the 4th quarter. Legal & General Group Plc now owns 200,985 shares of the industrial products company’s stock worth $12,560,000 after buying an additional 6,440 shares in the last quarter. LSV Asset Management lifted its position in shares of NWPX Infrastructure by 106.9% during the 4th quarter. LSV Asset Management now owns 143,558 shares of the industrial products company’s stock worth $8,971,000 after buying an additional 74,158 shares during the last quarter. Ellsworth Advisors LLC bought a new stake in shares of NWPX Infrastructure during the 4th quarter worth $1,031,000. Finally, State of Wyoming acquired a new stake in NWPX Infrastructure in the fourth quarter valued at about $293,000. 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. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.