Neenah (NYSE:NP) Stock Rating Upgraded by Zacks Investment Research

Neenah (NYSE:NP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday, Zacks.com reports. The brokerage presently has a $84.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.48% from the stock’s previous close.

According to Zacks, “Neenah is a leading global specialty materials company, focused on premium niche markets that include advanced filtration media, specialized substrates used for tapes, labels and other products, and premium printing and packaging papers. The company is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. “

Shares of NP traded up $1.13 during mid-day trading on Friday, hitting $74.68. The stock had a trading volume of 103,620 shares, compared to its average volume of 88,285. The company has a market cap of $1.14 billion, a PE ratio of 21.34 and a beta of 1.26. The company’s fifty day simple moving average is $63.59 and its two-hundred day simple moving average is $63.70. The company has a quick ratio of 1.28, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. Neenah has a fifty-two week low of $56.67 and a fifty-two week high of $77.55.

Neenah (NYSE:NP) last issued its earnings results on Tuesday, November 5th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The company had revenue of $231.80 million during the quarter, compared to analyst estimates of $246.50 million. Neenah had a return on equity of 13.43% and a net margin of 5.46%. The business’s revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. Equities analysts expect that Neenah will post 3.19 earnings per share for the current year.

In related news, CEO John P. O’donnell sold 20,394 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $67.67, for a total transaction of $1,380,061.98. Following the completion of the transaction, the chief executive officer now owns 83,521 shares in the company, valued at approximately $5,651,866.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Julie Schertell sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $64.77, for a total value of $97,155.00. Following the transaction, the senior vice president now owns 6,226 shares of the company’s stock, valued at approximately $403,258.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,817 shares of company stock valued at $3,268,254. Insiders own 1.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC boosted its position in Neenah by 6.4% during the 3rd quarter. Copeland Capital Management LLC now owns 234,741 shares of the basic materials company’s stock valued at $15,286,000 after purchasing an additional 14,048 shares during the period. Tower Research Capital LLC TRC acquired a new position in Neenah during the 3rd quarter valued at approximately $40,000. Parallel Advisors LLC boosted its position in Neenah by 8.4% during the 3rd quarter. Parallel Advisors LLC now owns 2,374 shares of the basic materials company’s stock valued at $155,000 after purchasing an additional 183 shares during the period. Russell Investments Group Ltd. boosted its position in Neenah by 24.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 111,967 shares of the basic materials company’s stock valued at $7,289,000 after purchasing an additional 21,863 shares during the period. Finally, California Public Employees Retirement System boosted its position in Neenah by 28.0% during the 3rd quarter. California Public Employees Retirement System now owns 32,945 shares of the basic materials company’s stock valued at $2,145,000 after purchasing an additional 7,206 shares during the period. Institutional investors and hedge funds own 92.62% 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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