National Presto Industries (NYSE:NPK) Stock Moved Up to Strong-Buy by Wall Street Zen

Wall Street Zen upgraded shares of National Presto Industries (NYSE:NPK) from a buy rating to a strong-buy rating in a research note released on Saturday,Wall Street Zen reports.

NPK has been the topic of a number of other reports. Freedom Broker initiated coverage on National Presto Industries in a research note on Thursday, October 1st. They issued a “hold” rating and a $162.00 price target on the stock. National Bank Financial set a $162.00 price objective on National Presto Industries in a research report on Wednesday, September 30th. Finally, Weiss Ratings raised National Presto Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, National Presto Industries presently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

National Presto Industries Stock Down 2.6%

Shares of NYSE:NPK opened at $147.78 on Friday. National Presto Industries has a 52 week low of $91.28 and a 52 week high of $158.17. The company has a 50-day moving average price of $149.66 and a 200 day moving average price of $136.55. The company has a market cap of $1.06 billion, a P/E ratio of 24.71 and a beta of 0.47.

National Presto Industries (NYSE:NPK) last released its earnings results on Friday, August 14th. The conglomerate reported $2.21 earnings per share (EPS) for the quarter. The company had revenue of $146.60 million for the quarter. National Presto Industries had a return on equity of 10.83% and a net margin of 7.86%.

Institutional Investors Weigh In On National Presto Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Medina Value Partners LLC acquired a new stake in shares of National Presto Industries in the 2nd quarter worth approximately $21,695,514. Freestone Grove Partners LP acquired a new position in National Presto Industries during the second quarter worth $928,000. Squarepoint Ops LLC acquired a new position in National Presto Industries during the second quarter worth $901,000. Bank of New York Mellon Corp acquired a new position in National Presto Industries during the second quarter worth $7,511,000. Finally, Bank of America Corp DE purchased a new stake in National Presto Industries during the second quarter worth $1,261,000. 58.57% of the stock is currently owned by institutional investors and hedge funds.

National Presto Industries Company Profile

National Presto Industries, Inc is a diversified manufacturer headquartered in Eau Claire, Wisconsin. Founded in 1905, the company is best known for its Presto brand of household appliances and cookware, while also serving the U.S. defense industry through its defense products business.

Its housewares and small-appliance operations offer products such as pressure cookers, electric cooking appliances, kitchen appliances, and related household items. These products are sold through mass merchants, department stores, hardware retailers, specialty stores, and online channels under the Presto brand and other product labels.

National Presto’s defense operations manufacture products and components for government and defense customers, including 40-millimeter ammunition, fuzes, cartridge-actuated devices, and precision metal components.