Brokerages Set $67.00 Target Price for Neenah Inc (NYSE:NP)

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Neenah Inc (NYSE:NP) has been given an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokers have set a 12 month consensus target price of $67.00 for the company and are predicting that the company will post $0.83 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neenah an industry rank of 236 out of 255 based on the ratings given to related companies.

Several equities research analysts have recently commented on NP shares. ValuEngine raised Neenah from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered Neenah from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

Shares of NYSE:NP traded down $0.60 during trading on Friday, hitting $60.95. 65,056 shares of the stock were exchanged, compared to its average volume of 87,195. The company has a fifty day moving average price of $63.10 and a two-hundred day moving average price of $63.78. The company has a market cap of $1.01 billion, a PE ratio of 17.42 and a beta of 1.29. The company has a current ratio of 2.38, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. Neenah has a 12-month low of $56.67 and a 12-month high of $83.82.

Neenah (NYSE:NP) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $261.47 million. Neenah had a return on equity of 12.58% and a net margin of 5.09%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 EPS. Equities research analysts anticipate that Neenah will post 3.19 earnings per share for the current fiscal year.

In related news, VP Larry Newton Brownlee sold 5,000 shares of Neenah stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.67, for a total transaction of $338,350.00. Following the completion of the transaction, the vice president now directly owns 12,246 shares in the company, valued at approximately $828,686.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bonnie Cruickshank Lind sold 7,846 shares of Neenah stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $66.36, for a total value of $520,660.56. Following the transaction, the chief financial officer now owns 27,024 shares of the company’s stock, valued at $1,793,312.64. The disclosure for this sale can be found here. Insiders have sold a total of 53,817 shares of company stock worth $3,606,604 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Signaturefd LLC raised its holdings in Neenah by 51.4% in the 2nd quarter. Signaturefd LLC now owns 477 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 162 shares during the last quarter. Advisor Group Inc. raised its holdings in Neenah by 12.1% in the 2nd quarter. Advisor Group Inc. now owns 1,978 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 214 shares during the last quarter. First Interstate Bank raised its holdings in Neenah by 18.5% in the 2nd quarter. First Interstate Bank now owns 2,092 shares of the basic materials company’s stock valued at $141,000 after acquiring an additional 326 shares during the last quarter. Parallel Advisors LLC raised its holdings in Neenah by 32.4% in the 2nd quarter. Parallel Advisors LLC now owns 2,191 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 536 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Neenah by 182.9% in the 2nd quarter. Bank of Montreal Can now owns 2,410 shares of the basic materials company’s stock valued at $162,000 after acquiring an additional 1,558 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Neenah Company Profile

Neenah, Inc produces and sells technical products, and fine paper and packaging products worldwide. Its Technical Products segment offers filtration media for transportation, water, and other uses; saturated and unsaturated crepe, and flat paper tapes; and coated lightweight abrasive papers for automotive, construction, metal, and woodworking industries.

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