National Presto Industries (NYSE:NPK) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of National Presto Industries (NYSE:NPK) from a strong-buy rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

Several other analysts have also issued reports on the company. National Bank Financial set a $162.00 target price on National Presto Industries in a report on Wednesday, September 30th. Weiss Ratings raised National Presto Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, 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 for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, National Presto Industries presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

National Presto Industries Trading Down 0.8%

Shares of NYSE NPK traded down $1.08 during midday trading on Friday, reaching $139.22. The company’s stock had a trading volume of 51,467 shares, compared to its average volume of 121,709. National Presto Industries has a fifty-two week low of $91.28 and a fifty-two week high of $158.17. The stock has a market capitalization of $994.03 million, a price-to-earnings ratio of 23.28 and a beta of 0.49. The stock has a 50 day simple moving average of $148.52 and a 200-day simple moving average of $137.79.

National Presto Industries (NYSE:NPK) last announced its quarterly earnings data on Friday, November 13th. The conglomerate reported $2.79 EPS for the quarter. National Presto Industries had a net margin of 7.86% and a return on equity of 10.83%. The business had revenue of $144.31 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in National Presto Industries in the 2nd quarter valued at about $122,206,000. Medina Value Partners LLC acquired a new position in National Presto Industries during the second quarter worth approximately $21,695,514. J. Goldman & Co LP acquired a new position in National Presto Industries during the second quarter worth approximately $15,397,000. Bank of New York Mellon Corp acquired a new position in National Presto Industries during the second quarter worth approximately $7,511,000. Finally, First Trust Advisors LP increased its position in National Presto Industries by 7.1% during the first quarter. First Trust Advisors LP now owns 32,169 shares of the conglomerate’s stock worth $4,409,000 after buying an additional 2,121 shares during the last quarter. 58.57% of the stock is currently owned by institutional investors and hedge funds.

About National Presto Industries

National Presto Industries, Inc. is a diversified manufacturer based in Eau Claire, Wisconsin. The company operates in housewares and small appliances, defense products, and safety products, serving consumer, commercial, and government markets. Its housewares business is known for Presto-branded pressure cookers, pressure canners, deep fryers, and other kitchen appliances. The defense business manufactures ordnance and related products, while its safety-products operations make absorbent materials used in personal-care and other applications.