Napco Security Technologies (NASDAQ:NSSC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $23.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.11% from the company’s current price.

According to Zacks, “NAPCO SECURITY SYSTEMS is engaged in the development, manufacture, distribution and sale of security alarm products and door security devices for commercial and residential installations. “

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity lifted their price objective on shares of Napco Security Technologies from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 5th. BidaskClub cut shares of Napco Security Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, December 15th. William Blair initiated coverage on shares of Napco Security Technologies in a research report on Friday, January 11th. They issued an “outperform” rating and a $15.31 price target for the company. Finally, ValuEngine raised shares of Napco Security Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Napco Security Technologies currently has an average rating of “Buy” and an average target price of $20.77.

NASDAQ:NSSC opened at $20.70 on Wednesday. The firm has a market capitalization of $382.33 million, a price-to-earnings ratio of 50.49 and a beta of 0.68. Napco Security Technologies has a 52 week low of $9.55 and a 52 week high of $22.64.

Napco Security Technologies (NASDAQ:NSSC) last posted its quarterly earnings results on Monday, February 4th. The industrial products company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.07. The business had revenue of $24.83 million during the quarter, compared to the consensus estimate of $22.80 million. Napco Security Technologies had a net margin of 10.14% and a return on equity of 15.74%. Sell-side analysts forecast that Napco Security Technologies will post 0.59 EPS for the current year.

Napco Security Technologies announced that its board has approved a stock repurchase plan on Wednesday, December 26th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Andrew Wilder sold 12,000 shares of the stock in a transaction that occurred on Thursday, December 20th. The shares were sold at an average price of $14.59, for a total value of $175,080.00. Following the sale, the director now directly owns 59,120 shares in the company, valued at $862,560.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Carrieri sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $19.57, for a total transaction of $489,250.00. The disclosure for this sale can be found here. Insiders sold 49,823 shares of company stock worth $925,331 over the last quarter. Company insiders own 38.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of Napco Security Technologies by 176.8% in the fourth quarter. Meeder Asset Management Inc. now owns 2,594 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 1,657 shares during the last quarter. Bank of America Corp DE grew its position in shares of Napco Security Technologies by 94.9% in the fourth quarter. Bank of America Corp DE now owns 7,422 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 3,614 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Napco Security Technologies in the third quarter valued at approximately $131,000. Acadian Asset Management LLC grew its position in shares of Napco Security Technologies by 92.2% in the third quarter. Acadian Asset Management LLC now owns 10,427 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 5,003 shares during the last quarter. Finally, Hancock Whitney Corp acquired a new stake in shares of Napco Security Technologies in the fourth quarter valued at approximately $175,000. Institutional investors and hedge funds own 36.32% of the company’s stock.

Napco Security Technologies Company Profile

Napco Security Technologies, Inc manufactures and sells security products and software worldwide. The company offers access control systems, door security products, intrusion and fire alarm systems, and video surveillance systems for commercial, residential, institutional, industrial, and governmental applications.

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