JPMorgan Chase & Co. Initiates Coverage on NWPX Infrastructure (NASDAQ:NWPX)

Key Points

• JPMorgan Chase & Co. initiated coverage on NWPX Infrastructure with a neutral rating and a $130 price target, implying about 5.47% upside from the current share price.
• The stock has drawn mixed analyst views overall, but MarketBeat shows a consensus “Moderate Buy” rating with an average price target of $110.
• NWPX reported better-than-expected quarterly results, earning $1.08 per share versus the $0.68 estimate and generating $138.25 million in revenue, while shares recently traded near their 52-week high.

Analysts at JPMorgan Chase & Co. initiated coverage on shares of NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) in a research report issued on Wednesday,Benzinga reports. The firm set a "neutral" rating and a $130.00 price target on the industrial products company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 5.47% from the company's current price.

Several other research analysts also recently issued reports on NWPX. Wall Street Zen raised NWPX Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Weiss Ratings upgraded NWPX Infrastructure from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 8th. Zacks Research downgraded NWPX Infrastructure from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, DA Davidson increased their price target on NWPX Infrastructure from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

NWPX Infrastructure Stock Performance

NASDAQ NWPX opened at $123.26 on Wednesday. The firm's 50 day simple moving average is $99.58 and its 200 day simple moving average is $79.32. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 2.23 and a beta of 1.10. The company has a current ratio of 2.68, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. NWPX Infrastructure has a 1 year low of $38.38 and a 1 year high of $125.62.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.40. NWPX Infrastructure had a return on equity of 10.80% and a net margin of 7.66%.The firm had revenue of $138.25 million during the quarter, compared to analysts' expectations of $125.10 million. As a group, research analysts expect that NWPX Infrastructure will post 4.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Scott J. Montross sold 2,500 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $71.44, for a total transaction of $178,600.00. Following the transaction, the chief executive officer directly owned 65,977 shares of the company's stock, valued at approximately $4,713,396.88. This represents a 3.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amanda Julian sold 3,473 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $71.98, for a total value of $249,986.54. Following the completion of the sale, the director directly owned 10,417 shares of the company's stock, valued at $749,815.66. This trade represents a 25.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,273 shares of company stock worth $946,564. 3.30% of the stock is owned by corporate insiders.

Institutional Trading of NWPX Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NWPX Infrastructure by 2.2% in the third 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 in the last quarter. Royce & Associates LP raised its holdings in shares of NWPX Infrastructure by 7.1% in the 3rd 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 lifted its position in NWPX Infrastructure by 3.3% in the 4th quarter. Legal & General Group Plc now owns 200,985 shares of the industrial products company's stock valued at $12,560,000 after acquiring an additional 6,440 shares in the last quarter. LSV Asset Management lifted its position in NWPX Infrastructure by 106.9% in the 4th quarter. LSV Asset Management now owns 143,558 shares of the industrial products company's stock valued at $8,971,000 after acquiring an additional 74,158 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in NWPX Infrastructure by 4.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 102,946 shares of the industrial products company's stock valued at $4,222,000 after purchasing an additional 4,577 shares during the last quarter. Institutional investors own 80.63% of the company's stock.

NWPX Infrastructure Company Profile

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.

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