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

Shares of Neenah Inc (NYSE:NP) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokers have set a 12-month consensus target price of $67.00 for the company and are anticipating that the company will post $0.90 EPS for the current quarter, according to Zacks. Zacks has also assigned Neenah an industry rank of 194 out of 256 based on the ratings given to its competitors.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Shares of Neenah stock traded down $0.07 on Friday, hitting $66.13. The company had a trading volume of 969 shares, compared to its average volume of 87,725. The business has a 50-day simple moving average of $62.35. The company has a current ratio of 2.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.12 billion, a P/E ratio of 18.91, a PEG ratio of 4.32 and a beta of 1.34. Neenah has a 52 week low of $56.67 and a 52 week high of $96.15.

Neenah (NYSE:NP) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. The business had revenue of $239.70 million for the quarter, compared to analysts’ expectations of $262.00 million. Neenah had a return on equity of 13.71% and a net margin of 3.17%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. On average, equities analysts expect that Neenah will post 3.13 EPS for the current year.

In related news, VP Larry Newton Brownlee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $62.52, for a total transaction of $312,600.00. Following the completion of the transaction, the vice president now owns 17,246 shares in the company, valued at $1,078,219.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Neenah by 1.1% in the fourth quarter. BlackRock Inc. now owns 2,443,162 shares of the basic materials company’s stock worth $143,951,000 after purchasing an additional 26,071 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Neenah by 6.4% in the first quarter. Wells Fargo & Company MN now owns 1,222,695 shares of the basic materials company’s stock worth $78,693,000 after purchasing an additional 73,669 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Neenah by 2.1% in the fourth quarter. Macquarie Group Ltd. now owns 924,005 shares of the basic materials company’s stock worth $54,442,000 after purchasing an additional 19,317 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Neenah by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 733,780 shares of the basic materials company’s stock worth $43,234,000 after purchasing an additional 2,365 shares in the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in Neenah by 40.4% in the first quarter. Ceredex Value Advisors LLC now owns 302,770 shares of the basic materials company’s stock worth $19,486,000 after purchasing an additional 87,114 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

About Neenah

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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