NWPX Infrastructure (NASDAQ:NWPX) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

NWPX Infrastructure, Inc. (NASDAQ:NWPX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $87.16 and traded as high as $151.92. NWPX Infrastructure shares last traded at $149.37, with a volume of 202,005 shares.

Analyst Ratings Changes

A number of research firms recently commented on NWPX. Weiss Ratings upgraded shares of NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. JPMorgan Chase & Co. began coverage on shares of NWPX Infrastructure in a report on Wednesday, June 10th. They issued a “neutral” rating and a $130.00 price target on the stock. Zacks Research cut shares of NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen downgraded shares of NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.00.

NWPX Infrastructure Stock Performance

The business has a fifty day moving average of $116.72 and a 200 day moving average of $87.79. The company has a market cap of $1.39 billion, a P/E ratio of 33.72, a P/E/G ratio of 2.73 and a beta of 1.10. The company has a quick ratio of 2.06, a current ratio of 2.68 and a debt-to-equity ratio of 0.02.

NWPX Infrastructure (NASDAQ:NWPX) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.08 earnings per share for the quarter, beating 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 business had revenue of $138.25 million for the quarter, compared to analysts’ expectations of $125.10 million. On average, equities analysts predict 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. LSV Asset Management lifted its holdings in NWPX Infrastructure by 106.9% in the fourth quarter. LSV Asset Management now owns 143,558 shares of the industrial products company’s stock worth $8,971,000 after buying an additional 74,158 shares during the period. Franklin Resources Inc. grew its holdings in shares of NWPX Infrastructure by 527.6% during the 4th quarter. Franklin Resources Inc. now owns 70,923 shares of the industrial products company’s stock worth $4,432,000 after acquiring an additional 59,623 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of NWPX Infrastructure during the 1st quarter worth approximately $4,609,000. Congruence Capital LLC bought a new position in shares of NWPX Infrastructure in the 4th quarter worth approximately $3,508,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of NWPX Infrastructure in the 1st quarter worth approximately $3,339,000. Hedge funds and other 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.