JPMorgan Chase & Co. Issues Pessimistic Forecast for NWPX Infrastructure (NASDAQ:NWPX) Stock Price

NWPX Infrastructure (NASDAQ:NWPX) had its target price cut by research analysts at JPMorgan Chase & Co. from $130.00 to $120.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.69% from the stock’s previous close.

A number of other research analysts have also recently weighed in on NWPX. Wall Street Zen cut shares of NWPX Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings downgraded NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, NWPX Infrastructure presently has an average rating of “Hold” and an average target price of $105.00.

NWPX Infrastructure Price Performance

NWPX Infrastructure stock opened at $97.81 on Friday. NWPX Infrastructure has a 52-week low of $53.15 and a 52-week high of $152.03. The company has a market cap of $941.91 million, a price-to-earnings ratio of 17.88, a PEG ratio of 1.61 and a beta of 1.14. The firm’s fifty day moving average is $103.33 and its 200 day moving average is $101.34. The company has a quick ratio of 1.84, a current ratio of 2.56 and a debt-to-equity ratio of 0.06.

NWPX Infrastructure (NASDAQ:NWPX) last announced its earnings results on Wednesday, October 28th. The industrial products company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.21. NWPX Infrastructure had a net margin of 8.87% and a return on equity of 12.99%. The firm had revenue of $179.39 million for the quarter, compared to analysts’ expectations of $167.74 million. Sell-side analysts forecast that NWPX Infrastructure will post 5.52 EPS for the current fiscal year.

Insider Transactions at NWPX Infrastructure

In related news, Director Keith R. Larson sold 250 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $106.48, for a total transaction of $26,620.00. Following the completion of the transaction, the director owned 14,383 shares of the company’s stock, valued at $1,531,501.84. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Franson sold 3,500 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $105.30, for a total transaction of $368,550.00. Following the transaction, the director owned 15,924 shares of the company’s stock, valued at $1,676,797.20. This represents a 18.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 58,335 shares of company stock worth $6,259,631. 3.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NWPX. BlackRock Inc. purchased a new stake in NWPX Infrastructure during the 2nd quarter worth about $135,365,000. Legal & General Group Plc purchased a new position in shares of NWPX Infrastructure in the 2nd quarter valued at about $42,751,000. Heartland Advisors Inc. acquired a new position in shares of NWPX Infrastructure during the second quarter worth about $20,992,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of NWPX Infrastructure during the second quarter worth about $16,659,000. Finally, Crown Advisors Management Inc. acquired a new position in shares of NWPX Infrastructure during the second quarter worth about $10,496,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.

About NWPX Infrastructure

NWPX Infrastructure (NASDAQ: NWPX), formerly known as Northwest Pipe Company, is an infrastructure manufacturer focused on products used to transport, store and manage water. The company supplies engineered steel pressure pipe and related systems for municipal water transmission, water treatment, wastewater and other utility applications.

Its product offerings also include precast concrete structures and components used in stormwater management, sanitary sewer systems and other civil infrastructure projects.