NWPX Infrastructure (NASDAQ:NWPX) Announces Earnings Results

Key Points

• NWPX Infrastructure beat quarterly expectations: The company reported earnings of $1.62 per share versus the $1.33 consensus estimate, while revenue reached $159.48 million compared with expectations of $154.70 million.
• Shares fell 2.4% to $123.21 after the results, despite strong year-over-year trading momentum; the stock remains well above its 52-week low of $40.01 but below its $152.03 high.
• Analyst sentiment remains moderately positive: MarketBeat lists a “Moderate Buy” consensus with a $110 target price, while institutional investors own 80.63% of the stock and several major funds recently increased their stakes.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) issued its earnings results on Wednesday. The industrial products company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.29, FiscalAI reports. The business had revenue of $159.48 million for the quarter, compared to analysts' expectations of $154.70 million. NWPX Infrastructure had a return on equity of 10.80% and a net margin of 7.66%.

NWPX Infrastructure Trading Down 2.4%

Shares of NWPX stock traded down $3.04 during trading on Wednesday, hitting $123.21. 272,183 shares of the stock traded hands, compared to its average volume of 145,622. The firm has a market capitalization of $1.19 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 2.34 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.68 and a quick ratio of 2.06. The firm's fifty day moving average price is $130.85 and its 200-day moving average price is $97.87. NWPX Infrastructure has a 52-week low of $40.01 and a 52-week high of $152.03.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in NWPX Infrastructure by 527.6% in the fourth quarter. Franklin Resources Inc. now owns 70,923 shares of the industrial products company's stock valued at $4,432,000 after purchasing an additional 59,623 shares during the period. Millennium Management LLC lifted its stake in shares of NWPX Infrastructure by 86.6% in the 3rd quarter. Millennium Management LLC now owns 48,723 shares of the industrial products company's stock valued at $2,579,000 after purchasing an additional 22,611 shares during the last quarter. AQR Capital Management LLC increased its position in shares of NWPX Infrastructure by 274.8% during the 1st quarter. AQR Capital Management LLC now owns 28,887 shares of the industrial products company's stock worth $1,193,000 after purchasing an additional 21,179 shares during the last quarter. Bank of America Corp DE raised its stake in shares of NWPX Infrastructure by 184.0% in the 2nd quarter. Bank of America Corp DE now owns 32,317 shares of the industrial products company's stock valued at $1,325,000 after acquiring an additional 20,936 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in NWPX Infrastructure by 45.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 52,207 shares of the industrial products company's stock valued at $3,262,000 after purchasing an additional 16,213 shares during the period. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.

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