NAPCO Security Technologies (NASDAQ:NSSC) Hits New 52-Week High - Here's What Happened

Key Points

• NAPCO Security Technologies' stock reached a new 52-week high trading at $45.03, reflecting a significant increase from its previous close of $43.15.
• The company reported earnings of $0.33 per share for the latest quarter, exceeding analyst expectations, and had annual revenue growth of 0.8% year-over-year.
• Several analysts upgraded their ratings on NAPCO Security Technologies, with price targets ranging from $36.00 to $50.00, indicating confidence in the stock's future performance.

NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $45.03 and last traded at $44.16, with a volume of 53999 shares changing hands. The stock had previously closed at $43.15.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NSSC shares. Craig Hallum upgraded NAPCO Security Technologies from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Tuesday, August 26th. DA Davidson set a $50.00 price objective on NAPCO Security Technologies and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen upgraded NAPCO Security Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Zacks Research upgraded NAPCO Security Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Finally, Needham & Company LLC raised their target price on NAPCO Security Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.50.

NAPCO Security Technologies Stock Up 2.1%

The firm has a 50 day moving average of $34.79 and a 200 day moving average of $29.01. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 37.13 and a beta of 1.51.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last announced its quarterly earnings results on Monday, August 25th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $50.72 million for the quarter, compared to analyst estimates of $44.26 million. NAPCO Security Technologies had a return on equity of 25.42% and a net margin of 23.90%.The company's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. Equities analysts expect that NAPCO Security Technologies, Inc. will post 1.24 EPS for the current year.

NAPCO Security Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.56 annualized dividend and a yield of 1.3%. NAPCO Security Technologies's dividend payout ratio (DPR) is currently 47.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NSSC. First Horizon Advisors Inc. grew its stake in shares of NAPCO Security Technologies by 49.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,552 shares of the industrial products company's stock worth $46,000 after buying an additional 516 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NAPCO Security Technologies by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,014 shares of the industrial products company's stock valued at $712,000 after acquiring an additional 751 shares during the period. GAMMA Investing LLC increased its holdings in shares of NAPCO Security Technologies by 227.2% in the first quarter. GAMMA Investing LLC now owns 1,106 shares of the industrial products company's stock worth $25,000 after purchasing an additional 768 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of NAPCO Security Technologies by 1.8% in the first quarter. Rhumbline Advisers now owns 50,446 shares of the industrial products company's stock worth $1,161,000 after purchasing an additional 879 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in NAPCO Security Technologies by 7.7% in the second quarter. Lazard Asset Management LLC now owns 13,425 shares of the industrial products company's stock worth $398,000 after acquiring an additional 961 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

About NAPCO Security Technologies

Napco Security Technologies, Inc develops, manufactures, and sells electronic security systems for commercial, residential, institutional, industrial, and governmental applications in the United States and internationally. Its access control systems include various types of identification readers, control panels, PC-based computers, and electronically activated door-locking devices; intrusion and fire alarm systems, consists of various detectors, a control panel, a digital keypad and signaling equipment; and door locking devices comprise microprocessor-based electronic door locks with push button, card readers and bio-metric operation, door alarms, mechanical door locks, and simple dead bolt locks.

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