Neo Performance Materials (TSE:NEO) Stock Rating Upgraded by Jefferies Financial Group

Key Points

• Jefferies upgraded Neo Performance Materials to “strong buy,” while other analysts also raised price targets. The stock has an overall “Buy” consensus rating and a C$56.17 average price target.
• Neo shares opened at C$32.39, versus a 52-week range of C$15.31 to C$47.19, giving the company a market capitalization of about C$1.50 billion.
• The company reported quarterly earnings of C$0.73 per share on revenue of C$292.32 million. Director Rahim Suleman also purchased 2,800 shares, and insiders own 22.38% of the company.

Neo Performance Materials (TSE:NEO - Get Free Report) was upgraded by analysts at Jefferies Financial Group to a "strong-buy" rating in a report issued on Friday, Zacks reports.

A number of other research firms have also commented on NEO. ATB Cormark Capital Markets boosted their price target on shares of Neo Performance Materials from C$43.00 to C$53.50 and gave the company an "outperform" rating in a research report on Friday, July 10th. BMO Capital Markets raised their price objective on shares of Neo Performance Materials from C$43.00 to C$60.00 in a report on Monday, July 13th. Finally, Stifel Nicolaus lifted their target price on shares of Neo Performance Materials from C$49.00 to C$55.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$56.17.

Neo Performance Materials Stock Up 0.1%

Shares of TSE NEO opened at C$32.39 on Friday. Neo Performance Materials has a 52-week low of C$15.31 and a 52-week high of C$47.19. The company has a debt-to-equity ratio of 34.03, a quick ratio of 1.92 and a current ratio of 2.06. The business has a fifty day moving average of C$34.27 and a two-hundred day moving average of C$31.29. The stock has a market cap of C$1.50 billion, a PE ratio of 3,239.00 and a beta of 1.46.

Neo Performance Materials (TSE:NEO - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported C$0.73 earnings per share for the quarter. The business had revenue of C$292.32 million for the quarter. Neo Performance Materials had a net margin of 0.15% and a return on equity of 0.21%. As a group, equities research analysts expect that Neo Performance Materials will post 0.6753356 earnings per share for the current fiscal year.

Insider Activity

In other Neo Performance Materials news, Director Rahim Suleman purchased 2,800 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of C$36.38 per share, with a total value of C$101,864.00. Following the completion of the acquisition, the director directly owned 481,997 shares of the company's stock, valued at C$17,535,050.86. This represents a 0.58% increase in their position. 22.38% of the stock is owned by corporate insiders.

About Neo Performance Materials

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo's advanced industrial materials - magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys - are critical to the performance of many everyday products and emerging technologies. Neo's products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.

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