Zacks: Brokerages Set $80.50 Price Target for Neenah Inc (NP)

Shares of Neenah Inc (NYSE:NP) have been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.

Analysts have set a one year consensus price target of $80.50 for the company and are forecasting that the company will post $1.12 earnings per share for the current quarter, according to Zacks. Zacks has also given Neenah an industry rank of 20 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded Neenah from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Wednesday, May 16th.

Shares of Neenah traded down $0.10, hitting $84.85, during midday trading on Friday, according to Marketbeat.com. 159,904 shares of the stock were exchanged, compared to its average volume of 66,647. Neenah has a 52-week low of $75.50 and a 52-week high of $95.40. The firm has a market cap of $1.43 billion, a P/E ratio of 19.64, a P/E/G ratio of 3.83 and a beta of 1.26. The company has a quick ratio of 1.32, a current ratio of 2.51 and a debt-to-equity ratio of 0.65.

Neenah (NYSE:NP) last released its quarterly earnings results on Wednesday, May 9th. The basic materials company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.03 by $0.01. Neenah had a return on equity of 18.73% and a net margin of 7.86%. The business had revenue of $266.50 million during the quarter, compared to analyst estimates of $260.30 million. During the same period last year, the business posted $1.03 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. sell-side analysts expect that Neenah will post 4.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 4th. Investors of record on Friday, May 18th were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $1.64 dividend on an annualized basis and a yield of 1.93%. Neenah’s dividend payout ratio (DPR) is presently 37.96%.

In other Neenah news, VP Larry Newton Brownlee sold 800 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $80.22, for a total value of $64,176.00. Following the sale, the vice president now directly owns 3,860 shares in the company, valued at $309,649.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sean T. Erwin sold 1,318 shares of the firm’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $82.88, for a total value of $109,235.84. Following the completion of the sale, the director now owns 20,453 shares in the company, valued at $1,695,144.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,386 shares of company stock valued at $195,910. 2.00% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Neenah by 4.1% during the fourth quarter. BlackRock Inc. now owns 2,134,590 shares of the basic materials company’s stock worth $193,501,000 after purchasing an additional 84,247 shares in the last quarter. Wells Fargo & Company MN increased its position in Neenah by 6.7% in the 1st quarter. Wells Fargo & Company MN now owns 1,002,111 shares of the basic materials company’s stock valued at $78,566,000 after acquiring an additional 62,964 shares during the period. Macquarie Group Ltd. increased its position in Neenah by 7.7% in the 4th quarter. Macquarie Group Ltd. now owns 705,779 shares of the basic materials company’s stock valued at $63,979,000 after acquiring an additional 50,240 shares during the period. Deutsche Bank AG increased its position in Neenah by 128.5% in the 4th quarter. Deutsche Bank AG now owns 37,567 shares of the basic materials company’s stock valued at $3,403,000 after acquiring an additional 21,129 shares during the period. Finally, Arizona State Retirement System increased its position in Neenah by 223.1% in the 4th quarter. Arizona State Retirement System now owns 28,266 shares of the basic materials company’s stock valued at $2,562,000 after acquiring an additional 19,518 shares during the period. Institutional investors own 90.46% of the company’s stock.

About Neenah

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

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