NWPX Infrastructure (NASDAQ:NWPX) Shares Down 4.4% - What's Next?

Key Points

• NWPX Infrastructure shares fell 4.4% in Tuesday trading, dipping as low as $133.78 before last changing hands at $130.17. Trading volume was far below normal, with about 14,443 shares changing hands versus an average of 140,117.
• Recent analyst action was mixed, with JPMorgan initiating coverage at neutral and a $130 price target, while other firms issued upgrades or downgrades. Overall, MarketBeat data shows a Moderate Buy consensus and an average target price of $110.
• The company recently posted better-than-expected quarterly results, earning $1.08 per share versus the $0.68 estimate and generating $138.25 million in revenue, above forecasts. NWPX also has a strong balance sheet, with low debt and solid liquidity ratios.

Shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX - Get Free Report) dropped 4.4% during mid-day trading on Tuesday . The company traded as low as $133.78 and last traded at $130.1650. Approximately 14,443 shares were traded 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

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. initiated 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. Weiss Ratings upgraded NWPX Infrastructure from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 8th. Zacks Research lowered NWPX Infrastructure from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, Wall Street Zen lowered NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, NWPX Infrastructure presently has an average rating of "Moderate Buy" and an average target price of $110.00.

NWPX Infrastructure Price Performance

The business's 50 day moving average is $128.54 and its two-hundred day moving average is $95.00. The firm has a market capitalization of $1.30 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.06 and a current ratio of 2.68.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.68 by $0.40. NWPX Infrastructure had a net margin of 7.66% and a return on equity of 10.80%. The company had revenue of $138.25 million during the quarter, compared to analysts' expectations of $125.10 million. Equities research analysts anticipate that NWPX Infrastructure, Inc. will post 4.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NWPX Infrastructure

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in NWPX Infrastructure by 274.8% during the first quarter. AQR Capital Management LLC now owns 28,887 shares of the industrial products company's stock valued at $1,193,000 after purchasing an additional 21,179 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in NWPX Infrastructure in the first quarter worth $224,000. Goldman Sachs Group Inc. increased its stake in NWPX Infrastructure by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 44,427 shares of the industrial products company's stock valued at $1,835,000 after acquiring an additional 6,510 shares during the last quarter. Empowered Funds LLC increased its stake in NWPX Infrastructure by 5.6% in the first quarter. Empowered Funds LLC now owns 48,369 shares of the industrial products company's stock valued at $1,998,000 after acquiring an additional 2,547 shares during the last quarter. Finally, First Trust Advisors LP raised its position in NWPX Infrastructure by 3.7% during the second quarter. First Trust Advisors LP now owns 31,897 shares of the industrial products company's stock valued at $1,308,000 after purchasing an additional 1,127 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors.

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.

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