Napco Security Technologies (NASDAQ:NSSC) Price Target Raised to $60.00

Napco Security Technologies (NASDAQ:NSSC) had its price target boosted by Lake Street Capital from $54.00 to $60.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other analysts have also recently commented on the company. StockNews.com cut Napco Security Technologies from a buy rating to a hold rating in a research report on Tuesday, February 13th. DA Davidson started coverage on Napco Security Technologies in a research report on Friday, April 26th. They issued a buy rating and a $52.00 price target for the company. B. Riley increased their target price on Napco Security Technologies from $36.00 to $45.00 and gave the stock a neutral rating in a research report on Tuesday, May 7th. Craig Hallum reiterated a buy rating and set a $65.00 target price (up previously from $50.00) on shares of Napco Security Technologies in a research report on Friday, May 24th. Finally, Needham & Company LLC increased their target price on Napco Security Technologies from $46.00 to $52.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $54.14.

Napco Security Technologies Stock Performance

Napco Security Technologies stock opened at $51.70 on Wednesday. The stock has a market cap of $1.90 billion, a PE ratio of 41.03 and a beta of 1.61. Napco Security Technologies has a one year low of $17.76 and a one year high of $53.10. The stock has a fifty day moving average of $45.44 and a 200 day moving average of $40.41.

Napco Security Technologies (NASDAQ:NSSC) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $49.30 million during the quarter, compared to analysts’ expectations of $48.16 million. Napco Security Technologies had a return on equity of 30.50% and a net margin of 25.58%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share. As a group, sell-side analysts predict that Napco Security Technologies will post 1.35 EPS for the current fiscal year.

Napco Security Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Monday, June 3rd. Napco Security Technologies’s payout ratio is presently 31.75%.

Insider Activity at Napco Security Technologies

In related news, CEO Richard Soloway sold 50,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $40.75, for a total transaction of $2,037,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,656,010 shares of the company’s stock, valued at $67,482,407.50. The sale was disclosed in a filing with the SEC, which is available through this link. 11.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Napco Security Technologies

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Napco Security Technologies by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 2,556,134 shares of the industrial products company’s stock valued at $102,654,000 after purchasing an additional 102,010 shares during the last quarter. FMR LLC lifted its stake in shares of Napco Security Technologies by 29.0% in the 3rd quarter. FMR LLC now owns 1,577,159 shares of the industrial products company’s stock valued at $35,092,000 after purchasing an additional 354,579 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of Napco Security Technologies by 3.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,149,474 shares of the industrial products company’s stock worth $39,369,000 after acquiring an additional 40,166 shares during the last quarter. abrdn plc boosted its holdings in Napco Security Technologies by 49.3% during the 4th quarter. abrdn plc now owns 883,726 shares of the industrial products company’s stock valued at $30,268,000 after acquiring an additional 291,920 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Napco Security Technologies by 168.9% during the 4th quarter. Wellington Management Group LLP now owns 691,148 shares of the industrial products company’s stock valued at $23,672,000 after acquiring an additional 434,164 shares during the period. 85.07% of the stock is owned by institutional investors.

About Napco Security Technologies

Napco Security Technologies, Inc develops, manufactures, and sells electronic security products in the United States and internationally. The company offers access control systems, door-locking products, intrusion and fire alarm systems, and video surveillance systems for commercial, residential, institutional, industrial, and governmental applications.