Zacks: Neenah Inc (NP) Receives Consensus Recommendation of “Hold” from Brokerages

Neenah Inc (NYSE:NP) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokers have set a 1-year consensus price target of $67.00 for the company and are expecting that the company will post $0.90 EPS for the current quarter, according to Zacks. Zacks has also assigned Neenah an industry rank of 206 out of 256 based on the ratings given to its competitors.

NP has been the topic of several recent research reports. Zacks Investment Research upgraded Neenah from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. DA Davidson cut their price target on Neenah to $77.00 and set a “positive” rating on the stock in a report on Wednesday, February 13th.

NP traded down $0.55 during mid-day trading on Wednesday, hitting $60.23. 2,548 shares of the stock were exchanged, compared to its average volume of 67,948. The company has a current ratio of 2.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.65. Neenah has a 1-year low of $56.67 and a 1-year high of $96.15. The firm has a market cap of $995.64 million, a price-to-earnings ratio of 17.21, a PEG ratio of 3.77 and a beta of 1.26.

Neenah (NYSE:NP) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Neenah had a return on equity of 13.71% and a net margin of 3.17%. The company had revenue of $239.70 million for the quarter, compared to the consensus estimate of $262.00 million. During the same quarter in the prior year, the business earned $1.04 EPS. Neenah’s revenue was down 10.1% on a year-over-year basis. On average, research analysts forecast that Neenah will post 3.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Friday, May 17th were issued a $0.45 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.99%. Neenah’s payout ratio is currently 51.43%.

In other Neenah news, SVP Armin Schwinn sold 489 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $64.01, for a total transaction of $31,300.89. Following the completion of the sale, the senior vice president now directly owns 2,608 shares of the company’s stock, valued at approximately $166,938.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Larry Newton Brownlee sold 453 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $63.50, for a total value of $28,765.50. Following the sale, the vice president now directly owns 5,166 shares of the company’s stock, valued at $328,041. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,942 shares of company stock worth $372,666. Company insiders own 1.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Investors Research Corp acquired a new stake in shares of Neenah in the 1st quarter valued at approximately $32,000. Quantamental Technologies LLC acquired a new stake in shares of Neenah in the 4th quarter valued at approximately $35,000. Cresset Asset Management LLC acquired a new stake in shares of Neenah in the 1st quarter valued at approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Neenah by 46.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,166 shares of the basic materials company’s stock valued at $69,000 after buying an additional 372 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Neenah by 12.8% in the 4th quarter. Bank of Montreal Can now owns 1,485 shares of the basic materials company’s stock valued at $87,000 after buying an additional 168 shares during the period. 92.63% of the stock is owned by institutional investors.

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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