Napco Security Technologies (NASDAQ:NSSC) Shares Gap Up Following Better-Than-Expected Earnings

Posted by Defense World Staff on Aug 31st, 2023

Napco Security Technologies, Inc. (NASDAQ:NSSC – Get Free Report) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $22.78, but opened at $24.00. Napco Security Technologies shares last traded at $23.37, with a volume of 112,257 shares.

The industrial products company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Napco Security Technologies had a return on equity of 26.33% and a net margin of 19.71%. During the same quarter in the previous year, the firm earned $0.20 earnings per share.

Napco Security Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, August 31st. This is a boost from Napco Security Technologies’s previous quarterly dividend of $0.06. Napco Security Technologies’s dividend payout ratio (DPR) is 6.74%.

Analyst Upgrades and Downgrades

NSSC has been the subject of several analyst reports. B. Riley cut shares of Napco Security Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $24.00 in a report on Monday, August 21st. StockNews.com initiated coverage on Napco Security Technologies in a report on Thursday, August 17th. They issued a “hold” rating for the company. Craig Hallum dropped their price objective on Napco Security Technologies from $40.00 to $30.00 in a report on Wednesday. Lake Street Capital reduced their target price on Napco Security Technologies from $30.00 to $27.00 in a report on Wednesday. Finally, 22nd Century Group reiterated a “reiterates” rating on shares of Napco Security Technologies in a report on Thursday, May 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Napco Security Technologies presently has an average rating of “Hold” and a consensus target price of $30.60.

Get Our Latest Stock Analysis on NSSC

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in Napco Security Technologies by 137.5% during the first quarter. Tower Research Capital LLC TRC now owns 862 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 499 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Napco Security Technologies by 100.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,628 shares of the industrial products company’s stock valued at $35,000 after buying an additional 814 shares during the last quarter. Ensign Peak Advisors Inc acquired a new stake in Napco Security Technologies during the 3rd quarter valued at $42,000. Ameritas Investment Partners Inc. raised its holdings in shares of Napco Security Technologies by 100.0% in the first quarter. Ameritas Investment Partners Inc. now owns 2,090 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 1,045 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Napco Security Technologies in the second quarter worth $43,000. Institutional investors and hedge funds own 87.65% of the company’s stock.

Napco Security Technologies Price Performance

The firm has a market capitalization of $911.90 million, a PE ratio of 27.87 and a beta of 1.10. The company has a 50-day moving average price of $34.04 and a 200-day moving average price of $34.29.

About Napco Security Technologies

(Get Free Report)

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.