DA Davidson Issues Positive Forecast for NWPX Infrastructure (NASDAQ:NWPX) Stock Price

by · The Markets Daily

NWPX Infrastructure (NASDAQ:NWPX – Get Free Report) had its target price increased by equities research analysts at DA Davidson from $70.00 to $90.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price target points to a potential upside of 9.67% from the stock’s current price.

Several other brokerages have also commented on NWPX. Wall Street Zen raised shares of NWPX Infrastructure from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings cut shares of NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $90.00.

Check Out Our Latest Report on NWPX Infrastructure

NWPX Infrastructure Trading Up 5.8%

NWPX stock traded up $4.46 during midday trading on Monday, hitting $82.06. The stock had a trading volume of 83,835 shares, compared to its average volume of 86,372. NWPX Infrastructure has a 12-month low of $36.97 and a 12-month high of $83.12. The firm has a market cap of $785.34 million, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.82 and a beta of 0.92. The company’s 50-day moving average price is $69.01 and its 200 day moving average price is $60.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.60 and a quick ratio of 2.62.

NWPX Infrastructure (NASDAQ:NWPX – Get Free Report) last released its earnings results on Wednesday, February 25th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $122.00 million. On average, equities research analysts predict that NWPX Infrastructure will post 3.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Aaron Wilkins sold 5,009 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $59.90, for a total value of $300,039.10. Following the completion of the transaction, the chief financial officer owned 19,753 shares of the company’s stock, valued at approximately $1,183,204.70. This trade represents a 20.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael C. Franson sold 5,506 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $1,114,649.25. This trade represents a 22.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,791 shares of company stock valued at $708,142 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NWPX Infrastructure

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NWPX Infrastructure by 2.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 575,365 shares of the industrial products company’s stock worth $30,453,000 after buying an additional 12,272 shares during the last quarter. Royce & Associates LP raised its stake in 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 during the last quarter. Legal & General Group Plc boosted its holdings in NWPX Infrastructure by 14.4% in the 2nd quarter. Legal & General Group Plc now owns 323,819 shares of the industrial products company’s stock valued at $13,280,000 after purchasing an additional 40,751 shares during the period. American Century Companies Inc. boosted its holdings in NWPX Infrastructure by 2.6% in the 2nd quarter. American Century Companies Inc. now owns 246,430 shares of the industrial products company’s stock valued at $10,106,000 after purchasing an additional 6,258 shares during the period. Finally, Geode Capital Management LLC grew its position in NWPX Infrastructure by 4.9% in the 2nd quarter. Geode Capital Management LLC now owns 240,631 shares of the industrial products company’s stock worth $9,870,000 after purchasing an additional 11,342 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.

NWPX Infrastructure Company Profile

(Get Free Report)

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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