Neenah (NYSE:NP) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Neenah (NYSE:NP) from a hold rating to a buy rating in a report issued on Thursday, ValuEngine reports.

A number of other research analysts also recently commented on NP. TheStreet raised Neenah from a c+ rating to a b- rating in a report on Wednesday, November 27th. Zacks Investment Research downgraded Neenah from a strong-buy rating to a hold rating in a report on Wednesday, January 8th.

NP traded down $0.04 on Thursday, reaching $67.27. The company’s stock had a trading volume of 72,000 shares, compared to its average volume of 79,300. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.42 and a quick ratio of 1.28. The business’s 50 day moving average is $70.00 and its 200 day moving average is $66.70. Neenah has a 1 year low of $56.67 and a 1 year high of $77.55. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 21.77 and a beta of 1.31.

Neenah (NYSE:NP) last released its earnings results on Tuesday, November 5th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Neenah had a return on equity of 13.35% and a net margin of 5.46%. The company had revenue of $231.80 million for the quarter, compared to the consensus estimate of $246.50 million. During the same quarter last year, the business posted $0.76 EPS. Neenah’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, research analysts forecast that Neenah will post 3.39 earnings per share for the current fiscal year.

In related news, CEO John P. O’donnell sold 7,728 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $69.71, for a total value of $538,718.88. Following the sale, the chief executive officer now owns 69,248 shares of the company’s stock, valued at approximately $4,827,278.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Philip C. Moore sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $74.80, for a total value of $448,800.00. Following the completion of the sale, the director now directly owns 16,027 shares in the company, valued at approximately $1,198,819.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,957 shares of company stock worth $2,023,243. 1.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in NP. Squar Milner Financial Services LLC lifted its holdings in shares of Neenah by 171.5% in the 4th quarter. Squar Milner Financial Services LLC now owns 429 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 271 shares during the last quarter. AdvisorNet Financial Inc bought a new stake in shares of Neenah in the 3rd quarter worth approximately $33,000. Tower Research Capital LLC TRC bought a new stake in shares of Neenah in the 3rd quarter worth approximately $40,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Neenah by 67.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,463 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 589 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Neenah by 8.4% in the 3rd quarter. Parallel Advisors LLC now owns 2,374 shares of the basic materials company’s stock worth $155,000 after purchasing an additional 183 shares during the last quarter. 91.18% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: The limitations of an equal weight rating

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