NAPCO Security Technologies (NASDAQ:NSSC) Upgraded to "Buy" at Lake Street Capital

Key Points

• NAPCO Security Technologies has been upgraded to a "buy" rating by Lake Street Capital, with a target price of $39.00, indicating a potential upside of 8.91% from its current stock price.
• The company has reported a quarterly earnings per share (EPS) of $0.33, surpassing expectations, with revenue of $50.72 million, which is notably higher than the consensus estimate of $44.26 million.
• Major investment analysts currently rate NAPCO as a "Moderate Buy," with an average price target of $35.67 based on multiple upgrades and performance analysis.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) was upgraded by analysts at Lake Street Capital from a "hold" rating to a "buy" rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $39.00 price objective on the industrial products company's stock. Lake Street Capital's price objective suggests a potential upside of 8.91% from the stock's current price.

NSSC has been the topic of a number of other research reports. Craig Hallum upgraded NAPCO Security Technologies from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Tuesday. DA Davidson set a $33.00 price target on shares of NAPCO Security Technologies and gave the company a "buy" rating in a research report on Wednesday, June 25th. Needham & Company LLC raised their price objective on shares of NAPCO Security Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Mizuho initiated coverage on shares of NAPCO Security Technologies in a research note on Thursday, July 10th. They set an "outperform" rating and a $39.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, NAPCO Security Technologies has an average rating of "Moderate Buy" and an average price target of $35.67.

NAPCO Security Technologies Price Performance

NAPCO Security Technologies stock opened at $35.8090 on Tuesday. The stock has a market capitalization of $1.28 billion, a PE ratio of 28.59 and a beta of 1.42. The business has a 50 day simple moving average of $30.19 and a 200-day simple moving average of $26.75. NAPCO Security Technologies has a 12 month low of $19.00 and a 12 month high of $48.75.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last released 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. The company had revenue of $50.72 million during the quarter, compared to the consensus estimate of $44.26 million. NAPCO Security Technologies had a net margin of 25.00% and a return on equity of 26.14%. NAPCO Security Technologies's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, equities research analysts anticipate that NAPCO Security Technologies will post 1.24 EPS for the current fiscal year.

Institutional Trading of NAPCO Security Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in NAPCO Security Technologies by 1.4% in 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 during the last quarter. First Horizon Advisors Inc. grew its holdings in 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 purchasing an additional 516 shares during the last quarter. Man Group plc grew its holdings in 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 purchasing an additional 571 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 purchasing an additional 751 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in NAPCO Security Technologies by 227.2% during the first quarter. GAMMA Investing LLC now owns 1,106 shares of the industrial products company's stock worth $25,000 after buying an additional 768 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

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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