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

Napco Security Technologies, Inc. (NASDAQ:NSSC) shares gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. 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 analysts’ consensus estimates of $0.34 by ($0.06). Napco Security Technologies had a net margin of 26.43% and a return on equity of 29.56%. The business had revenue of $42.90 million during the quarter, compared to analyst estimates of $49.93 million. During the same period in the previous year, the company posted $0.34 earnings per share. Napco Security Technologies’s revenue was down 9.3% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NSSC. TD Cowen downgraded shares of Napco Security Technologies from a “buy” rating to a “hold” rating and cut their price target for the company from $46.00 to $27.00 in a report on Tuesday. Lake Street Capital cut their price target on shares of Napco Security Technologies from $60.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com raised shares of Napco Security Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. DA Davidson reduced their price objective on shares of Napco Security Technologies from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Craig Hallum lowered shares of Napco Security Technologies from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.14.

Institutional Trading of Napco Security Technologies

A number of hedge funds have recently made changes to their positions in NSSC. Farther Finance Advisors LLC lifted its position in shares of Napco Security Technologies by 72,300.0% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 723 shares in the last quarter. Quarry LP lifted its position in shares of Napco Security Technologies by 91.2% in the second quarter. Quarry LP now owns 654 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 312 shares in the last quarter. KBC Group NV lifted its position in shares of Napco Security Technologies by 61.4% in the third quarter. KBC Group NV now owns 1,115 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 424 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Napco Security Technologies by 109.7% in the third quarter. First Horizon Advisors Inc. now owns 1,107 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 579 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Napco Security Technologies by 54.7% in the third quarter. Huntington National Bank now owns 1,777 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 628 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Napco Security Technologies Stock Down 2.8 %

The business’s 50-day moving average price is $36.46 and its 200-day moving average price is $41.18. The firm has a market capitalization of $960.47 million, a PE ratio of 19.29 and a beta of 1.64.

Napco Security Technologies Company Profile

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.