National Presto Industries (NYSE:NPK) Stock Rated Hold in New Coverage at Freedom Broker

Key Points

• Freedom Broker initiated coverage of National Presto Industries with a “hold” rating and a $162 price target, implying 9.48% upside from the prior close. The consensus rating is “Moderate Buy,” with an average target of $162.
• National Presto shares fell 0.1% to $147.97, while the company recently reported quarterly earnings of $2.21 per share on revenue of $146.6 million.
• Institutional ownership stands at 58.57%, with several investors—including Medina Value Partners and Bank of New York Mellon—establishing new positions during the second quarter.

Investment analysts at Freedom Broker assumed coverage on shares of National Presto Industries (NYSE:NPK - Get Free Report) in a research note issued to investors on Thursday, Benzinga reports. The brokerage set a "hold" rating and a $162.00 price target on the conglomerate's stock. Freedom Broker's target price would indicate a potential upside of 9.48% from the stock's previous close.

Several other analysts also recently weighed in on the company. National Bank Financial set a $162.00 price objective on National Presto Industries in a research report on Wednesday. Wall Street Zen upgraded shares of National Presto Industries from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Finally, Weiss Ratings raised shares of National Presto Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, National Presto Industries currently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

National Presto Industries Stock Down 0.1%

Shares of NPK traded down $0.19 during trading hours on Thursday, hitting $147.97. The company had a trading volume of 34,851 shares, compared to its average volume of 100,106. The firm has a market cap of $1.06 billion, a P/E ratio of 24.69 and a beta of 0.47. The stock's 50 day moving average price is $143.38 and its 200 day moving average price is $136.78. National Presto Industries has a 52-week low of $91.28 and a 52-week high of $158.17.

National Presto Industries (NYSE:NPK - Get Free Report) last issued its earnings results on Friday, August 14th. The conglomerate reported $2.21 earnings per share for the quarter. National Presto Industries had a return on equity of 10.83% and a net margin of 7.86%.The company had revenue of $146.60 million during the quarter.

Institutional Investors Weigh In On National Presto Industries

Several institutional investors and hedge funds have recently bought and sold shares of NPK. Freestone Grove Partners LP purchased a new position in shares of National Presto Industries during the second quarter valued at approximately $928,000. Medina Value Partners LLC purchased a new stake in National Presto Industries in the second quarter worth $21,695,514. Squarepoint Ops LLC purchased a new stake in National Presto Industries in the second quarter worth $901,000. Bank of New York Mellon Corp bought a new stake in National Presto Industries in the second quarter valued at $7,511,000. Finally, Legal & General Group Plc bought a new stake in National Presto Industries in the second quarter valued at $1,389,000. Hedge funds and other institutional investors own 58.57% of the company's stock.

National Presto Industries Company Profile

National Presto Industries, Inc is a diversified manufacturer headquartered in Eau Claire, Wisconsin. Founded in 1905, the company is best known for its Presto-branded household products, including pressure cookers, electric pressure cookers, and other small kitchen appliances designed for home food preparation.

Through its defense operations, National Presto manufactures products for the U.S. military and other defense customers. Its defense-related offerings have included ammunition and components for mortar and artillery systems, as well as other specialized energetic products.

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