NWPX Infrastructure (NASDAQ:NWPX) Trading Down 4.4% – Here’s Why

NWPX Infrastructure, Inc. (NASDAQ:NWPX) fell 4.4% on Tuesday . The company traded as low as $133.78 and last traded at $130.1650. Approximately 14,443 shares traded hands during trading, a decline of 90% from the average session volume of 140,117 shares. The stock had previously closed at $136.18.

Analysts Set New Price Targets

A number of analysts recently weighed in on NWPX shares. Weiss Ratings upgraded NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Zacks Research downgraded shares of NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen lowered shares of NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Finally, JPMorgan Chase & Co. began coverage on shares of NWPX Infrastructure in a research note on Wednesday, June 10th. They issued a “neutral” rating and a $130.00 price objective for the company. 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’s stock. According to MarketBeat, NWPX Infrastructure presently has an average rating of “Moderate Buy” and an average target price of $110.00.

NWPX Infrastructure Stock Down 1.2%

The stock has a market cap of $1.30 billion, a P/E ratio of 31.49, a P/E/G ratio of 2.53 and a beta of 1.07. The company has a quick ratio of 2.06, a current ratio of 2.68 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $128.54 and a two-hundred day simple moving average of $95.00.

NWPX Infrastructure (NASDAQ:NWPX) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $1.08 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $125.10 million. On average, equities analysts forecast that NWPX Infrastructure, Inc. will post 4.97 EPS for the current year.

Hedge Funds Weigh In On NWPX Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of NWPX. Wexford Capital LP purchased a new position in NWPX Infrastructure during the 3rd quarter valued at about $29,000. Simplex Trading LLC grew its position in shares of NWPX Infrastructure by 193.9% in the 4th quarter. Simplex Trading LLC now owns 485 shares of the industrial products company’s stock worth $30,000 after buying an additional 320 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of NWPX Infrastructure in the 4th quarter worth approximately $71,000. Exchange Traded Concepts LLC purchased a new position in shares of NWPX Infrastructure during the fourth quarter valued at approximately $78,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of NWPX Infrastructure by 141.5% during the fourth quarter. State of Alaska Department of Revenue now owns 1,287 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 754 shares in the last quarter. 80.63% of the stock is owned by institutional investors.

NWPX Infrastructure Company Profile

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.