Needham & Company LLC Reaffirms "Buy" Rating for NAPCO Security Technologies (NASDAQ:NSSC)

Key Points

• Needham & Company reaffirmed a “Buy” rating on NAPCO Security Technologies with a $49 price target, implying approximately 29.7% upside from the prior close.
• Analyst sentiment remains generally positive: six analysts rate the stock “Buy” and two rate it “Hold,” producing a consensus “Moderate Buy” rating and an average target of $48.67.
• NSSC opened at $37.77 and has a $1.35 billion market capitalization; institutional investors own approximately 85.1% of the shares, with BlackRock and Jupiter Topco among recent new investors.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They currently have a $49.00 price target on the industrial products company's stock. Needham & Company LLC's price objective would indicate a potential upside of 29.73% from the stock's previous close.

A number of other research firms also recently weighed in on NSSC. DA Davidson reiterated a "buy" rating and set a $52.00 target price on shares of NAPCO Security Technologies in a research report on Tuesday, May 5th. Weiss Ratings restated a "hold (c)" rating on shares of NAPCO Security Technologies in a research report on Friday, August 7th. Wall Street Zen downgraded NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, TD Cowen reaffirmed a "buy" rating and set a $53.00 price objective (up from $50.00) on shares of NAPCO Security Technologies in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.67.

NAPCO Security Technologies Stock Performance

NASDAQ:NSSC opened at $37.77 on Friday. NAPCO Security Technologies has a 52 week low of $30.03 and a 52 week high of $48.12. The firm's 50-day simple moving average is $37.54 and its 200 day simple moving average is $40.07. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 36.32 and a beta of 1.45.

Institutional Trading of NAPCO Security Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of NAPCO Security Technologies in the second quarter worth about $213,928,000. Jupiter Topco LLC bought a new stake in shares of NAPCO Security Technologies during the 2nd quarter valued at approximately $63,855,000. Arrowstreet Capital Limited Partnership increased its position in NAPCO Security Technologies by 668.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 861,141 shares of the industrial products company's stock worth $36,986,000 after purchasing an additional 749,065 shares in the last quarter. Copeland Capital Management LLC increased its position in NAPCO Security Technologies by 41.4% during the 1st quarter. Copeland Capital Management LLC now owns 2,009,089 shares of the industrial products company's stock worth $79,138,000 after purchasing an additional 588,297 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in NAPCO Security Technologies in the 3rd quarter valued at approximately $24,305,000. 85.07% of the stock is currently owned by institutional investors.

NAPCO Security Technologies Company Profile

NAPCO Security Technologies, Inc NASDAQ: NSSC is a designer and manufacturer of electronic security solutions for commercial and residential applications. The company's product portfolio spans intrusion and fire alarm control panels, alarm communicators, access control locks and readers, as well as a broad range of peripheral modules and integrated security accessories. NAPCO's offerings are engineered to deliver scalable, networked security systems suitable for new installations and retrofit projects alike.

Key product lines include hybrid alarm control panels that support both wired and wireless peripherals, cellular and IP alarm communicators for reliable central station reporting, and the acclaimed “Alarm Lock” series of standalone and networked electronic door locks.

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