NAPCO Security Technologies (NASDAQ:NSSC) Rating Increased to Buy at Craig Hallum

Key Points

• Craig Hallum upgraded NAPCO Security Technologies from a "hold" to a "buy" rating, with a target price of $40, indicating a potential 18.91% upside from its current stock price.
• The company reported earnings of $0.33 per share for the last quarter, exceeding the consensus estimate of $0.26, with revenues of $50.72 million, well above expectations.
• NAPCO Security Technologies has received a consensus rating of "Moderate Buy" from analysts, with multiple firms setting target prices between $26.00 and $40.00.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) was upgraded by analysts at Craig Hallum from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $40.00 price target on the industrial products company's stock. Craig Hallum's price target suggests a potential upside of 5.12% from the company's previous close.

A number of other analysts have also issued reports on the stock. Needham & Company LLC lifted their price target on shares of NAPCO Security Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Mizuho started coverage on shares of NAPCO Security Technologies in a research note on Thursday, July 10th. They issued an "outperform" rating and a $39.00 price target for the company. Lake Street Capital set a $26.00 price target on shares of NAPCO Security Technologies in a research note on Monday, May 5th. Finally, DA Davidson set a $33.00 price objective on shares of NAPCO Security Technologies and gave the stock a "buy" rating in a report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.67.

NAPCO Security Technologies Price Performance

NASDAQ NSSC traded down $0.28 during mid-day trading on Tuesday, hitting $38.05. The company's stock had a trading volume of 445,259 shares, compared to its average volume of 372,596. NAPCO Security Technologies has a 52-week low of $19.00 and a 52-week high of $48.75. The stock's fifty day simple moving average is $30.97 and its two-hundred day simple moving average is $27.09. The firm has a market capitalization of $1.36 billion, a P/E ratio of 31.97 and a beta of 1.42.

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

Hedge Funds Weigh In On NAPCO Security Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of NAPCO Security Technologies by 1.4% during the fourth quarter. Invesco Ltd. now owns 35,737 shares of the industrial products company's stock valued at $1,271,000 after purchasing an additional 477 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of NAPCO Security Technologies during the fourth quarter valued at about $220,000. Barclays PLC raised its stake in shares of NAPCO Security Technologies by 4.9% during the fourth quarter. Barclays PLC now owns 65,145 shares of the industrial products company's stock valued at $2,316,000 after purchasing an additional 3,060 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of NAPCO Security Technologies by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 21,549 shares of the industrial products company's stock valued at $766,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of NAPCO Security Technologies by 3.5% during the fourth quarter. Stifel Financial Corp now owns 80,482 shares of the industrial products company's stock valued at $2,862,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

NAPCO Security Technologies Company Profile

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.