NWPX Infrastructure (NASDAQ:NWPX) Issues Quarterly Earnings Results, Beats Expectations By $0.29 EPS

NWPX Infrastructure (NASDAQ:NWPX) issued its earnings results on Wednesday. The industrial products company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.29, FiscalAI reports. The business had revenue of $159.48 million during the quarter, compared to the consensus estimate of $154.70 million. NWPX Infrastructure had a return on equity of 12.40% and a net margin of 8.49%.

NWPX Infrastructure Stock Down 2.4%

NASDAQ NWPX traded down $3.10 during trading hours on Friday, hitting $123.77. The company’s stock had a trading volume of 141,720 shares, compared to its average volume of 146,440. The company has a market capitalization of $1.19 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 2.25 and a beta of 1.07. The company has a current ratio of 2.68, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. NWPX Infrastructure has a 52 week low of $40.01 and a 52 week high of $152.03. The company’s 50-day simple moving average is $131.48 and its two-hundred day simple moving average is $98.72.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. 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. JPMorgan Chase & Co. initiated coverage on NWPX Infrastructure in a research note on Wednesday, June 10th. They issued a “neutral” rating and a $130.00 target price for the company. Weiss Ratings raised NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Finally, Zacks Research lowered NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, NWPX Infrastructure currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Institutional Trading of NWPX Infrastructure

Several institutional investors and hedge funds have recently made changes to their positions in NWPX. Hsbc Holdings PLC bought a new stake in NWPX Infrastructure in the fourth quarter worth about $227,000. Dynamic Technology Lab Private Ltd bought a new position in shares of NWPX Infrastructure during the 1st quarter valued at approximately $224,000. Occudo Quantitative Strategies LP purchased a new stake in shares of NWPX Infrastructure during the 2nd quarter worth approximately $220,000. Man Group plc purchased a new stake in shares of NWPX Infrastructure during the 2nd quarter worth approximately $212,000. Finally, Aristides Capital LLC bought a new stake in shares of NWPX Infrastructure in the 4th quarter worth approximately $211,000. 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.