Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Napco Security Technologies (NASDAQ: NSSC) today and set a price target of $17. The company’s shares opened today at $14.95.
Walkley commented:
“We also believe NAPCO has the financial flexibility for a potential acquisition that leverages the Dominican Republic facility to ramp hardware revenue faster than our modest estimates, and this potential increased scale should drive margin leverage. We believe growth in commercial construction should benefit NAPCO’s end to end commercial security portfolio. Further, a national infrastructure bill could benefit school security spending as advocates actively lobby for investment. NAPCO sells hardware and solutions to the growing alarm communications, IoT, and school security markets, including security for home and enterprises, access control systems, and door locking systems. We believe NAPCO has a strong channel with over 10,000 security specialists selling its products, and we believe recently introduced products are gaining traction with these partners.”
According to TipRanks.com, Walkley is a 5-star analyst with an average return of 17.1% and a 64.1% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Adesto Technologies Corp, and Digi International Inc.
Napco Security Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $17.
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Based on Napco Security Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $1.83 million. In comparison, last year the company had a net profit of $3.22 million.
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Napco Security Technologies, Inc. engages in the development, manufacture, and distribution of security products. It operates though Domestic and Foreign geographical segments. It includes encompassing access control systems, door-locking products, intrusion and fire alarm systems, and video surveillance products for commercial and residential use.
