NAPCO Security Technologies (NASDAQ:NSSC) Upgraded to Strong-Buy at Zacks Research

Key Points

• NAPCO Security Technologies has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, signaling a positive outlook from analysts.
• Several other investment firms have also upgraded NAPCO's rating, with target prices ranging from $36.00 to $45.00, indicating strong market confidence.
• In its latest earnings report, NAPCO announced $0.33 earnings per share, surpassing expectations and showing revenue growth compared to the previous year.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

Several other brokerages have also recently issued reports on NSSC. Wall Street Zen raised NAPCO Security Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Needham & Company LLC lifted their target price on NAPCO Security Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Lake Street Capital raised NAPCO Security Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $26.00 to $39.00 in a research report on Tuesday, August 26th. DA Davidson lifted their target price on NAPCO Security Technologies from $33.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Finally, Mizuho assumed coverage on NAPCO Security Technologies in a research report on Thursday, July 10th. They set an "outperform" rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.67.

NAPCO Security Technologies Stock Performance

NAPCO Security Technologies stock traded up $0.44 during mid-day trading on Thursday, reaching $38.49. The stock had a trading volume of 668,068 shares, compared to its average volume of 375,737. NAPCO Security Technologies has a fifty-two week low of $19.00 and a fifty-two week high of $46.07. The stock's 50-day simple moving average is $31.39 and its 200-day simple moving average is $27.27. The firm has a market capitalization of $1.37 billion, a PE ratio of 31.98 and a beta of 1.51.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last announced its quarterly earnings data on Monday, August 25th. The industrial products company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. NAPCO Security Technologies had a return on equity of 25.42% and a net margin of 23.90%.The firm had revenue of $50.72 million during the quarter, compared to analysts' expectations of $44.26 million. During the same quarter last year, the firm posted $0.39 earnings per share. The company's revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts forecast that NAPCO Security Technologies will post 1.24 earnings per share for the current fiscal year.

Institutional Trading of NAPCO Security Technologies

Several hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of NAPCO Security Technologies by 49.8% in the second quarter. First Horizon Advisors Inc. now owns 1,552 shares of the industrial products company's stock valued at $46,000 after buying an additional 516 shares during the period. Man Group plc raised its stake in shares of NAPCO Security Technologies by 0.7% in the fourth quarter. Man Group plc now owns 78,743 shares of the industrial products company's stock valued at $2,800,000 after buying an additional 571 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NAPCO Security Technologies by 3.9% in 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 buying an additional 751 shares during the period. GAMMA Investing LLC raised its stake 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 valued at $25,000 after buying an additional 768 shares during the period. Finally, Snowden Capital Advisors LLC raised its stake in shares of NAPCO Security Technologies by 6.2% in the fourth quarter. Snowden Capital Advisors LLC now owns 13,473 shares of the industrial products company's stock valued at $481,000 after buying an additional 785 shares during the period. 85.07% of the stock is currently owned by institutional investors.

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.