NWPX Infrastructure (NASDAQ:NWPX) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

NWPX Infrastructure (NASDAQ:NWPX) had its price objective reduced by JPMorgan Chase & Co. from $130.00 to $120.00 in a research note released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

NWPX has been the subject of several other reports. Wall Street Zen cut NWPX Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings lowered NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $105.00.

NWPX Infrastructure Stock Performance

NWPX opened at $97.81 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.56 and a quick ratio of 1.84. The business has a fifty day simple moving average of $103.33 and a 200 day simple moving average of $101.34. NWPX Infrastructure has a 1 year low of $53.15 and a 1 year high of $152.03. The company has a market capitalization of $941.91 million, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14.

NWPX Infrastructure (NASDAQ:NWPX) last issued its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.86 earnings per share for the quarter, topping 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 business had revenue of $179.39 million during the quarter, compared to analysts’ expectations of $167.74 million. Research analysts expect that NWPX Infrastructure will post 5.52 EPS for the current year.

Insider Transactions at NWPX Infrastructure

In other NWPX Infrastructure news, Director Richard A. Roman sold 4,000 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $96.84, for a total value of $387,360.00. Following the completion of the transaction, the director directly owned 25,340 shares in the company, valued at approximately $2,453,925.60. This trade represents a 13.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Franson sold 3,500 shares of NWPX Infrastructure stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $105.30, for a total value of $368,550.00. Following the sale, the director directly owned 15,924 shares in the company, valued at $1,676,797.20. The trade was a 18.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 58,335 shares of company stock worth $6,259,631. 3.30% of the stock is currently owned by insiders.

Institutional Trading of NWPX Infrastructure

Several hedge funds and other institutional investors have recently made changes to their positions in NWPX. Deutsche Bank AG acquired a new position in shares of NWPX Infrastructure during the second quarter worth $1,425,000. BlackRock Inc. bought a new stake in shares of NWPX Infrastructure in the second quarter worth $135,365,000. Van ECK Associates Corp bought a new stake in shares of NWPX Infrastructure in the second quarter worth $5,378,000. Crown Advisors Management Inc. acquired a new stake in NWPX Infrastructure in the second quarter valued at $10,496,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in NWPX Infrastructure in the second quarter valued at $3,063,000. 80.63% of the stock is currently owned by institutional investors.

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.