Neo Performance Materials (TSE:NEO) Price Target Raised to C$55.00 at Stifel Nicolaus

Neo Performance Materials (TSE:NEO) had its target price boosted by analysts at Stifel Nicolaus from C$49.00 to C$55.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 47.73% from the company’s previous close.

A number of other brokerages have also recently weighed in on NEO. ATB Cormark Capital Markets lifted their price target on shares of Neo Performance Materials from C$43.00 to C$53.50 and gave the company an “outperform” rating in a research report on Friday, July 10th. BMO Capital Markets upped their price objective on shares of Neo Performance Materials from C$43.00 to C$60.00 in a report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Neo Performance Materials currently has an average rating of “Buy” and an average price target of C$56.17.

Neo Performance Materials Trading Down 5.0%

NEO stock traded down C$1.98 during midday trading on Wednesday, hitting C$37.23. 395,202 shares of the company’s stock were exchanged, compared to its average volume of 288,473. The business has a 50-day simple moving average of C$36.61 and a two-hundred day simple moving average of C$28.95. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75. The stock has a market capitalization of C$1.71 billion, a PE ratio of -155.12 and a beta of 1.44. Neo Performance Materials has a 1-year low of C$15.31 and a 1-year high of C$47.19.

Neo Performance Materials (TSE:NEO) last issued its quarterly earnings data on Tuesday, August 11th. The company reported C$0.73 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. The firm had revenue of C$292.32 million for the quarter. On average, sell-side analysts predict that Neo Performance Materials will post 0.6753356 EPS for the current fiscal year.

About Neo Performance Materials

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.