Jefferies Group Lowers Nortek Price Target to $78.00 (NTK)
Research analysts at Jefferies Group decreased their price target on shares of Nortek (NYSE:NTK) from $82.00 to $78.00 in a report released on Thursday. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price would suggest a potential downside of 1.95% from the stock’s previous close.
Nortek (NYSE:NTK) traded down 0.98% during mid-day trading on Thursday, hitting $79.66. The stock had a trading volume of 14,522 shares. Nortek has a 52-week low of $65.95 and a 52-week high of $92.30. The stock has a 50-day moving average of $86.21 and a 200-day moving average of $81.43. The company’s market cap is $1.250 billion.
Nortek (NYSE:NTK) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.10 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.45 by $0.35. On average, analysts predict that Nortek will post $-0.24 earnings per share for the current fiscal year.
Separately, analysts at Avondale Partners initiated coverage on shares of Nortek in a research note on Thursday, July 31st. They set a “market outperform” rating and a $114.00 price target on the stock.
Nortek, Inc and its wholly owned subsidiaries (NYSE:NTK) is engaged in manufacturing of residential and commercial building products.
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