NWPX Infrastructure (NASDAQ:NWPX) Hits New 12-Month High – Here’s Why

NWPX Infrastructure, Inc. (NASDAQ:NWPX) shares hit a new 52-week high during trading on Monday . The stock traded as high as $133.80 and last traded at $129.3220, with a volume of 6459 shares traded. The stock had previously closed at $128.85.

Analyst Ratings Changes

Several brokerages have commented on NWPX. Wall Street Zen downgraded NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research lowered NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. DA Davidson lifted their price objective on NWPX Infrastructure from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. started coverage on shares of NWPX Infrastructure in a report on Wednesday, June 10th. They set a “neutral” rating and a $130.00 price target for the company. Finally, Weiss Ratings upgraded shares of NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.00.

NWPX Infrastructure Stock Performance

The company has a 50-day moving average price of $104.60 and a two-hundred day moving average price of $81.86. 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 market capitalization of $1.27 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 2.40 and a beta of 1.10.

NWPX Infrastructure (NASDAQ:NWPX) last posted its quarterly earnings data 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 analyst estimates of $125.10 million. On average, equities analysts forecast that NWPX Infrastructure, Inc. will post 4.97 earnings per share for the current year.

Insider Buying and Selling at NWPX Infrastructure

In other news, EVP Miles Brittain sold 3,300 shares of NWPX Infrastructure stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $70.89, for a total value of $233,937.00. Following the completion of the transaction, the executive vice president directly owned 20,006 shares of the company’s stock, valued at approximately $1,418,225.34. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.30% of the company’s stock.

Institutional Trading of NWPX Infrastructure

Hedge funds have recently modified their holdings of the stock. 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 acquiring an additional 16,434 shares in the last quarter. Legal & General Group Plc increased its stake in shares of 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. Ellsworth Advisors LLC bought a new stake in shares of NWPX Infrastructure in the 4th quarter valued at $1,031,000. Royce & Associates LP increased its stake 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 valued at $28,433,000 after acquiring an additional 35,768 shares in the last quarter. Finally, CenterBook Partners LP bought a new stake in NWPX Infrastructure in the 3rd quarter valued at about $1,643,000. 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.