Zacks: Neenah Paper, Inc. (NP) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Neenah Paper, Inc. (NYSE:NP) have received an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Brokerages have set a twelve-month consensus target price of $80.50 for the company and are anticipating that the company will post $0.92 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neenah Paper an industry rank of 101 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently commented on NP shares. Zacks Investment Research downgraded shares of Neenah Paper from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. DA Davidson reiterated a “neutral” rating on shares of Neenah Paper in a research report on Thursday, November 9th.
A number of institutional investors have recently added to or reduced their stakes in NP. Riverhead Capital Management LLC raised its holdings in Neenah Paper by 83.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,465 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 665 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in Neenah Paper by 0.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,211 shares of the basic materials company’s stock worth $178,000 after purchasing an additional 18 shares during the last quarter. Magnetar Financial LLC bought a new position in Neenah Paper during the 3rd quarter worth approximately $205,000. Cambridge Investment Research Advisors Inc. bought a new position in Neenah Paper during the 3rd quarter worth approximately $221,000. Finally, Suntrust Banks Inc. bought a new position in Neenah Paper during the 2nd quarter worth approximately $285,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.
Shares of Neenah Paper (NYSE:NP) opened at $93.35 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.52 and a debt-to-equity ratio of 0.56. Neenah Paper has a one year low of $72.35 and a one year high of $95.40. The firm has a market cap of $1,575.88, a P/E ratio of 21.44, a PEG ratio of 3.93 and a beta of 1.27.
Neenah Paper (NYSE:NP) last posted its earnings results on Tuesday, November 7th. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. Neenah Paper had a net margin of 8.13% and a return on equity of 20.48%. The business had revenue of $245.10 million for the quarter, compared to the consensus estimate of $240.60 million. During the same period last year, the company earned $0.99 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. sell-side analysts anticipate that Neenah Paper will post 4.19 earnings per share for the current year.
Neenah Paper announced that its board has approved a stock repurchase program on Wednesday, November 29th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
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About Neenah Paper
Neenah, Inc, formerly Neenah Paper, Inc, is a materials company focused in niche markets. The Company has two primary businesses: technical products, and fine paper and packaging. The technical products business is an international producer of transportation, water and other filtration media, digital transfer materials, tape and abrasive backings, labels and other performance-oriented substrates.
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