Canaccord Genuity Reaffirms Buy Rating for NAPCO Security Technologies, Inc. (NSSC)
Canaccord Genuity reaffirmed their buy rating on shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC) in a research note released on Tuesday. Canaccord Genuity currently has a $12.00 price target on the industrial products company’s stock.
“We expect growth in high margin recurring revenue and increasing manufacturing revenue in their Dominican Republic facility to drive operating leverage in FY18 and beyond. As demonstrated by the strong 38.3% gross margin during the seasonally strong June quarter, we believe NAPCO generates strong leverage once hardware sales exceed $20M per quarter. We believe NAPCO has new products to drive hardware growth and generate consistent sales above $20M per quarter longer term. We also believe NAPCO has the financial flexibility for a potential acquisition that leverages the Dominican Republic facility to ramp hardware revenue.”,” the firm’s analyst wrote.
NAPCO Security Technologies (NASDAQ:NSSC) traded down 7.53% during trading on Tuesday, reaching $8.60. 17,893 shares of the company’s stock were exchanged. NAPCO Security Technologies has a 52 week low of $6.51 and a 52 week high of $10.95. The company’s 50 day moving average price is $8.64 and its 200-day moving average price is $9.44. The stock has a market capitalization of $162.06 million, a price-to-earnings ratio of 27.83 and a beta of 0.53.
NAPCO Security Technologies (NASDAQ:NSSC) last announced its quarterly earnings data on Tuesday, September 5th. The industrial products company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.02. NAPCO Security Technologies had a net margin of 6.41% and a return on equity of 10.60%. The company had revenue of $25.70 million for the quarter, compared to analysts’ expectations of $25.40 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts expect that NAPCO Security Technologies will post $0.42 EPS for the current year.
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In related news, Director Paul Stephen Beeber sold 2,886 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $9.20, for a total transaction of $26,551.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 37.81% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NSSC. Taylor Wealth Management Partners lifted its stake in NAPCO Security Technologies by 507.0% in the second quarter. Taylor Wealth Management Partners now owns 232,625 shares of the industrial products company’s stock valued at $2,187,000 after acquiring an additional 194,300 shares during the last quarter. Kennedy Capital Management Inc. acquired a new stake in NAPCO Security Technologies in the second quarter valued at approximately $1,225,000. Northern Trust Corp lifted its stake in NAPCO Security Technologies by 319.9% in the second quarter. Northern Trust Corp now owns 146,111 shares of the industrial products company’s stock valued at $1,373,000 after acquiring an additional 111,318 shares during the last quarter. State Street Corp lifted its stake in NAPCO Security Technologies by 971.8% in the second quarter. State Street Corp now owns 115,750 shares of the industrial products company’s stock valued at $1,089,000 after acquiring an additional 104,950 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in NAPCO Security Technologies in the second quarter valued at approximately $662,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.
About NAPCO Security Technologies
NAPCO Security Technologies, Inc is a manufacturer of security products, encompassing access control systems, door-locking products, intrusion and fire alarm systems and video surveillance products. These products are used for commercial, residential, institutional, industrial and governmental applications, and are sold across the world principally to independent distributors, dealers and installers of security equipment.
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