National Presto Industries (NYSE:NPK) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of National Presto Industries, Inc. (NYSE:NPK) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $137.71 and traded as high as $153.74. National Presto Industries shares last traded at $149.29, with a volume of 84,035 shares.

Analysts Set New Price Targets

NPK has been the subject of a number of analyst reports. Weiss Ratings raised shares of National Presto Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Freedom Broker initiated coverage on National Presto Industries in a research note on Thursday, October 1st. They set a “hold” rating and a $162.00 target price for the company. Wall Street Zen raised National Presto Industries from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, National Bank Financial set a $162.00 target price on National Presto Industries in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, National Presto Industries has a consensus rating of “Moderate Buy” and an average target price of $162.00.

National Presto Industries Trading Down 1.1%

The stock has a 50-day simple moving average of $147.76 and a 200-day simple moving average of $137.79. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 24.28 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 EPS for the quarter. National Presto Industries had a return on equity of 10.83% and a net margin of 7.86%. The company had revenue of $146.60 million during the quarter.

Institutional Trading of National Presto Industries

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of National Presto Industries by 28.6% in the 3rd quarter. GAMMA Investing LLC now owns 517 shares of the conglomerate’s stock worth $77,000 after purchasing an additional 115 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of National Presto Industries in the 2nd quarter valued at about $231,000. Squarepoint Ops LLC acquired a new stake in shares of National Presto Industries in the 2nd quarter valued at about $901,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of National Presto Industries in the 2nd quarter valued at about $1,863,000. Finally, Bank of America Corp DE bought a new position in shares of National Presto Industries during the second quarter worth about $1,261,000. 58.57% of the stock is 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 and kitchen appliances, including pressure cookers, electric skillets, pressure canners, deep fryers, griddles, and other small appliances.

Through its defense operations, National Presto Industries manufactures ammunition and related defense products for the U.S. government and other customers. Its defense activities have included products such as 40-millimeter ammunition, fuzes, and precision ordnance components.