Zacks: Neenah Paper Inc. (NP) Given Consensus Recommendation of “Hold” by Brokerages
Neenah Paper Inc. (NYSE:NP) has received a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating. Neenah Paper’s rating score has declined by 50% in the last 90 days as a result of various analysts’ ratings changes.
Brokers have set a 12 month consensus price target of $72.00 for the company and are predicting that the company will post $1.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neenah Paper an industry rank of 55 out of 265 based on the ratings given to its competitors.
NP has been the topic of several research reports. DA Davidson cut shares of Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Friday, August 5th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Neenah Paper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th.
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In related news, SVP James R. Piedmonte sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $79.60, for a total value of $796,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Julie Schertell sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $76.00, for a total transaction of $106,400.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Copper Rock Capital Partners LLC boosted its stake in Neenah Paper by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 395,074 shares of the company’s stock worth $28,592,000 after buying an additional 6,274 shares during the last quarter. James Investment Research Inc. boosted its stake in Neenah Paper by 53.2% in the second quarter. James Investment Research Inc. now owns 186,822 shares of the company’s stock worth $13,521,000 after buying an additional 64,852 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Neenah Paper by 6.6% in the second quarter. Capstone Asset Management Co. now owns 5,473 shares of the company’s stock worth $396,000 after buying an additional 340 shares during the last quarter. Creative Planning boosted its stake in Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the company’s stock worth $122,000 after buying an additional 29 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Neenah Paper by 92.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,671 shares of the company’s stock worth $410,000 after buying an additional 2,720 shares during the last quarter. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
Neenah Paper (NYSE:NP) traded up 0.31% during mid-day trading on Monday, hitting $80.35. 14,927 shares of the stock traded hands. Neenah Paper has a 12-month low of $52.70 and a 12-month high of $82.24. The company has a 50 day moving average of $79.28 and a 200-day moving average of $72.36. The stock has a market cap of $1.35 billion, a PE ratio of 23.94 and a beta of 1.45.
Neenah Paper (NYSE:NP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.12. The business had revenue of $246 million for the quarter, compared to analysts’ expectations of $250.55 million. Neenah Paper had a net margin of 6.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. Equities research analysts forecast that Neenah Paper will post $4.38 earnings per share for the current year.
Neenah Paper Company Profile
Neenah Paper, Inc has two principal operations, technical products business, and fine paper and packaging business. The Company’s segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media, which includes filtration media (Filtration), tape and abrasives backings products (Backings), and durable label and specialty substrate products (Specialty).
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