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

NWPX Infrastructure (NASDAQ:NWPX) posted its earnings results on Wednesday. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.29, FiscalAI reports. NWPX Infrastructure had a return on equity of 10.80% and a net margin of 7.66%.The firm had revenue of $159.48 million for the quarter, compared to analyst estimates of $154.70 million.

NWPX Infrastructure Stock Down 2.4%

NASDAQ:NWPX traded down $3.04 during midday trading on Wednesday, reaching $123.21. The company had a trading volume of 272,183 shares, compared to its average volume of 145,622. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 2.34 and a beta of 1.07. The stock’s fifty day simple moving average is $130.85 and its 200-day simple moving average is $97.87. NWPX Infrastructure has a 12-month low of $40.01 and a 12-month high of $152.03. The company has a current ratio of 2.68, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On NWPX Infrastructure

Several large investors have recently bought and sold shares of NWPX. Wexford Capital LP acquired a new stake in NWPX Infrastructure in the 3rd quarter valued at about $29,000. Simplex Trading LLC increased its stake in shares of NWPX Infrastructure by 193.9% during the fourth 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 period. Kemnay Advisory Services Inc. purchased a new stake in shares of NWPX Infrastructure during the fourth quarter worth approximately $71,000. Raymond James Financial Inc. acquired a new stake in NWPX Infrastructure in the second quarter valued at approximately $163,000. Finally, Quantbot Technologies LP lifted its stake in NWPX Infrastructure by 43.3% in the third quarter. Quantbot Technologies LP now owns 3,093 shares of the industrial products company’s stock worth $164,000 after acquiring an additional 935 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Analyst Upgrades and Downgrades

NWPX has been the subject of several research reports. JPMorgan Chase & Co. assumed coverage on NWPX Infrastructure in a research report on Wednesday, June 10th. They issued a “neutral” rating and a $130.00 target price for the company. Zacks Research lowered 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 research note on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

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.