NPK International (NYSE:NPKI) Reaches New 52-Week High Following Strong Earnings

Key Points

• NPK International (NYSE:NPKI) reached a new 52-week high of $9.40 after reporting better-than-expected earnings, with an EPS of $0.11 surpassing estimates of $0.09.
• The company had revenue of $68.23 million for the quarter, exceeding the consensus estimate of $59.75 million.
• Analysts from HC Wainwright maintained a "buy" rating on NPK International, setting a price target of $12.00 for the stock.

Shares of NPK International Inc. (NYSE:NPKI - Get Free Report) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $9.40 and last traded at $9.27, with a volume of 216247 shares. The stock had previously closed at $8.89.

The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. NPK International had a positive return on equity of 8.29% and a negative net margin of 62.59%. The business had revenue of $68.23 million during the quarter, compared to the consensus estimate of $59.75 million.

Analyst Ratings Changes

A number of brokerages recently commented on NPKI. HC Wainwright restated a "buy" rating and issued a $12.00 price target on shares of NPK International in a research report on Monday, May 5th. B. Riley raised their price target on NPK International from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday.

Insiders Place Their Bets

In related news, VP Lori Briggs sold 8,005 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $8.57, for a total value of $68,602.85. Following the sale, the vice president directly owned 260,626 shares of the company's stock, valued at $2,233,564.82. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 19,722 shares of company stock valued at $167,234 over the last quarter. Company insiders own 4.90% of the company's stock.

Institutional Trading of NPK International

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC acquired a new stake in NPK International in the second quarter valued at about $19,874,000. Harbor Capital Advisors Inc. acquired a new stake in NPK International in the second quarter valued at about $7,615,000. First Eagle Investment Management LLC acquired a new stake in NPK International in the second quarter valued at about $3,550,000. Janney Montgomery Scott LLC acquired a new stake in NPK International in the second quarter valued at about $1,077,000. Finally, Northeast Financial Group Inc. acquired a new stake in NPK International in the second quarter valued at about $798,000. 80.81% of the stock is owned by institutional investors and hedge funds.

NPK International Stock Up 3.1%

The stock's 50 day moving average price is $8.64. The firm has a market capitalization of $782.67 million, a price-to-earnings ratio of -5.52 and a beta of 2.19. The company has a quick ratio of 2.37, a current ratio of 2.34 and a debt-to-equity ratio of 0.02.

NPK International Company Profile

NPK International Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.