Napco Security Technologies (NASDAQ:NSSC) Shares Gap Down After Earnings Miss

Napco Security Technologies, Inc. (NASDAQ:NSSC) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $26.93, but opened at $26.00. Napco Security Technologies shares last traded at $26.12, with a volume of 213,035 shares changing hands.

The industrial products company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The business had revenue of $42.90 million for the quarter, compared to analyst estimates of $49.93 million. Napco Security Technologies had a net margin of 26.43% and a return on equity of 29.56%. The business’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Craig Hallum lowered shares of Napco Security Technologies from a “buy” rating to a “hold” rating and set a $28.00 price objective on the stock. in a report on Tuesday. StockNews.com upgraded shares of Napco Security Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Needham & Company LLC cut their price objective on shares of Napco Security Technologies from $52.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday. TD Cowen lowered shares of Napco Security Technologies from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $27.00 in a report on Tuesday. Finally, DA Davidson cut their price objective on shares of Napco Security Technologies from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.14.

Institutional Investors Weigh In On Napco Security Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC grew its position in shares of Napco Security Technologies by 108.6% during the 3rd quarter. Copeland Capital Management LLC now owns 1,038,128 shares of the industrial products company’s stock valued at $42,003,000 after buying an additional 540,436 shares during the last quarter. FMR LLC grew its position in Napco Security Technologies by 30.8% in the 3rd quarter. FMR LLC now owns 2,102,688 shares of the industrial products company’s stock worth $85,075,000 after purchasing an additional 494,988 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in Napco Security Technologies by 426.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 237,995 shares of the industrial products company’s stock worth $9,629,000 after purchasing an additional 192,790 shares during the last quarter. Congress Asset Management Co. grew its position in Napco Security Technologies by 94.4% in the 4th quarter. Congress Asset Management Co. now owns 279,670 shares of the industrial products company’s stock worth $9,945,000 after purchasing an additional 135,802 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Napco Security Technologies by 74.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 300,901 shares of the industrial products company’s stock worth $12,174,000 after purchasing an additional 128,316 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Napco Security Technologies Trading Down 2.8 %

The stock has a market cap of $960.47 million, a P/E ratio of 19.29 and a beta of 1.64. The firm’s 50-day simple moving average is $36.46 and its 200 day simple moving average is $41.18.

About Napco Security Technologies

Napco Security Technologies, Inc develops, manufactures, and sells electronic security systems for commercial, residential, institutional, industrial, and governmental applications in the United States and internationally. Its access control systems include various types of identification readers, control panels, PC-based computers, and electronically activated door-locking devices; intrusion and fire alarm systems, consists of various detectors, a control panel, a digital keypad and signaling equipment; and door locking devices comprise microprocessor-based electronic door locks with push button, card readers and bio-metric operation, door alarms, mechanical door locks, and simple dead bolt locks.