Napco Security Technologies, Inc. (NASDAQ:NSSC – Get Rating) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $34.37, but opened at $35.40. Napco Security Technologies shares last traded at $34.30, with a volume of 26,260 shares changing hands.
The industrial products company reported earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.09. The business had revenue of $42.31 million for the quarter, compared to the consensus estimate of $38.95 million. Napco Security Technologies had a net margin of 11.74% and a return on equity of 16.08%. During the same quarter in the previous year, the firm earned $0.03 earnings per share.
Analyst Ratings Changes
A number of analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Napco Security Technologies from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, November 8th. StockNews.com assumed coverage on shares of Napco Security Technologies in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Lake Street Capital boosted their price objective on shares of Napco Security Technologies from $32.00 to $40.00 in a report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.40.
Insiders Place Their Bets
In other Napco Security Technologies news, CEO Richard Soloway sold 1,271,442 shares of Napco Security Technologies stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $24.79, for a total transaction of $31,519,047.18. Following the completion of the transaction, the chief executive officer now owns 5,996,010 shares in the company, valued at $148,641,087.90. The sale was disclosed in a document filed with the SEC, which is accessible via this hyperlink. In other news, SVP Michael Carrieri sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $26.05, for a total value of $234,450.00. Following the completion of the transaction, the senior vice president now owns 5,200 shares of the company’s stock, valued at $135,460. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard Soloway sold 1,271,442 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $24.79, for a total transaction of $31,519,047.18. Following the completion of the transaction, the chief executive officer now directly owns 5,996,010 shares of the company’s stock, valued at approximately $148,641,087.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,282,173 shares of company stock worth $31,798,676. Insiders own 21.50% of the company’s stock.
Hedge Funds Weigh In On Napco Security Technologies
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Investnet Asset Management Inc. increased its position in Napco Security Technologies by 23.8% during the fourth quarter. Investnet Asset Management Inc. now owns 55,086 shares of the industrial products company’s stock worth $1,514,000 after purchasing an additional 10,601 shares during the last quarter. Roubaix Capital LLC increased its position in Napco Security Technologies by 34.4% during the fourth quarter. Roubaix Capital LLC now owns 267,757 shares of the industrial products company’s stock worth $7,358,000 after purchasing an additional 68,571 shares during the last quarter. Bank of Montreal Can acquired a new position in Napco Security Technologies during the fourth quarter worth approximately $2,727,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Napco Security Technologies by 68.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the industrial products company’s stock worth $119,000 after buying an additional 1,770 shares during the period. Finally, M&G Investment Management Ltd. purchased a new stake in Napco Security Technologies during the fourth quarter worth approximately $2,680,000. Institutional investors and hedge funds own 84.49% of the company’s stock.
Napco Security Technologies Stock Up 3.5 %
The firm’s 50-day simple moving average is $28.04 and its 200-day simple moving average is $27.69. The company has a market capitalization of $1.31 billion, a PE ratio of 74.13 and a beta of 1.10.
About Napco Security Technologies
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Napco Security Technologies, Inc. engages in the development, manufacture, and distribution of security products. Its products include access control systems, door security products, intrusion and fire alarm systems, video surveillance products, and cellular communications services. The company was founded in 1969 and is headquartered in Amityville, NY.
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