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

Key Points

• NWPX Infrastructure was upgraded by Wall Street Zen from buy to strong-buy, adding to a mixed but generally positive analyst picture. MarketBeat notes a consensus rating of Buy with a $90.00 price target.
• The company reported strong quarterly results, posting $1.08 EPS versus the $0.68 estimate and revenue of $138.25 million versus the expected $125.10 million. Analysts now forecast full-year EPS of 4.94.
• Shares have surged to near their 12-month high, opening at $112.52 with a 12-month range of $37.99 to $114.27. Despite recent insider selling, institutional investors still hold 80.63% of the stock.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Sunday.

Several other equities analysts have also recently issued reports on the stock. Zacks Research cut shares of NWPX Infrastructure from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of NWPX Infrastructure from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, April 24th. Finally, DA Davidson boosted their price objective on shares of NWPX Infrastructure from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, NWPX Infrastructure has an average rating of "Buy" and a consensus price target of $90.00.

NWPX Infrastructure Stock Performance

Shares of NWPX stock opened at $112.52 on Friday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.07 and a beta of 1.06. 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 business's 50-day moving average price is $81.42 and its 200-day moving average price is $69.88. NWPX Infrastructure has a 12 month low of $37.99 and a 12 month high of $114.27.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.40. The company 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%. Equities research analysts forecast that NWPX Infrastructure will post 4.94 EPS for the current year.

Insider Buying and Selling

In related news, Director Amanda Julian sold 3,473 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $71.98, for a total value of $249,986.54. Following the sale, the director directly owned 10,417 shares in the company, valued at $749,815.66. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Miles Brittain sold 4,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $71.01, for a total transaction of $284,040.00. Following the sale, the executive vice president directly owned 23,306 shares of the company's stock, valued at $1,654,959.06. This represents a 14.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,273 shares of company stock valued at $1,490,019 in the last ninety days. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On NWPX Infrastructure

A number of hedge funds have recently bought and sold shares of NWPX. Allspring Global Investments Holdings LLC grew its holdings in NWPX Infrastructure by 19.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 101,961 shares of the industrial products company's stock worth $6,372,000 after acquiring an additional 16,434 shares during the period. SummerHaven Investment Management LLC acquired a new position in shares of NWPX Infrastructure in the 3rd quarter valued at about $1,053,000. LSV Asset Management lifted its stake in shares of NWPX Infrastructure by 166.9% in the 3rd quarter. LSV Asset Management now owns 69,400 shares of the industrial products company's stock valued at $3,673,000 after purchasing an additional 43,398 shares during the period. Ellsworth Advisors LLC bought a new stake in shares of NWPX Infrastructure during the 4th quarter valued at about $1,031,000. Finally, Royce & Associates LP boosted its position in shares of NWPX Infrastructure by 7.1% during the 3rd quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company's stock valued at $28,433,000 after purchasing an additional 35,768 shares in 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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