Needham & Company LLC Raises NAPCO Security Technologies (NASDAQ:NSSC) Price Target to $47.00

NAPCO Security Technologies (NASDAQ:NSSC) had its price objective lifted by Needham & Company LLC from $36.00 to $47.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 15.31% from the stock’s current price.

Several other research firms have also commented on NSSC. TD Cowen raised NAPCO Security Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $43.00 to $50.00 in a research report on Tuesday. Zacks Research raised NAPCO Security Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of NAPCO Security Technologies in a research report on Friday. Wall Street Zen raised NAPCO Security Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $50.00 target price (up from $39.00) on shares of NAPCO Security Technologies in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $47.50.

NAPCO Security Technologies Stock Down 7.7%

Shares of NASDAQ NSSC opened at $40.76 on Tuesday. The firm has a market cap of $1.45 billion, a PE ratio of 34.25 and a beta of 1.52. NAPCO Security Technologies has a twelve month low of $19.00 and a twelve month high of $48.12. The business has a fifty day simple moving average of $42.08 and a two-hundred day simple moving average of $33.25.

NAPCO Security Technologies (NASDAQ:NSSC) last released its quarterly earnings results on Monday, November 3rd. The industrial products company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $49.17 million during the quarter, compared to analyst estimates of $46.81 million. NAPCO Security Technologies had a return on equity of 25.42% and a net margin of 23.90%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. On average, research analysts expect that NAPCO Security Technologies will post 1.24 earnings per share for the current year.

Institutional Trading of NAPCO Security Technologies

Several large investors have recently added to or reduced their stakes in NSSC. Doma Perpetual Capital Management LLC grew its stake in NAPCO Security Technologies by 53.4% during the 1st quarter. Doma Perpetual Capital Management LLC now owns 1,175,655 shares of the industrial products company’s stock valued at $27,064,000 after purchasing an additional 409,123 shares during the last quarter. CenterBook Partners LP purchased a new stake in NAPCO Security Technologies during the 1st quarter valued at about $8,199,000. Wellington Management Group LLP grew its stake in NAPCO Security Technologies by 121.4% during the 1st quarter. Wellington Management Group LLP now owns 649,318 shares of the industrial products company’s stock valued at $14,947,000 after purchasing an additional 356,094 shares during the last quarter. Millennium Management LLC grew its stake in NAPCO Security Technologies by 62.4% during the 1st quarter. Millennium Management LLC now owns 769,789 shares of the industrial products company’s stock valued at $17,721,000 after purchasing an additional 295,755 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in NAPCO Security Technologies by 75.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 589,290 shares of the industrial products company’s stock valued at $13,565,000 after purchasing an additional 254,007 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.