FBR & Co Reaffirms “Buy” Rating for EnPro Industries (NPO)
FBR & Co restated their buy rating on shares of EnPro Industries (NYSE:NPO) in a report published on Tuesday morning. The firm currently has a $85.00 target price on the industrial products company’s stock.
“We had EnPro management meet with clients on September 7–8, making a strong case that even after it had put asbestos-related liabilities completely behind it, the revenue and margin growth profile of all three businesses creates an attractive upside opportunity, in our view. In addition to a relative healthy macro environment, the company is allocating the cash that had historically been allocated to managing its asbestos liability to higher-return investments such as accretive acquisitions and internal growth initiatives.”,” FBR & Co’s analyst commented.
NPO has been the subject of several other reports. Zacks Investment Research upgraded shares of EnPro Industries from a sell rating to a hold rating in a research report on Friday, May 26th. BidaskClub raised shares of EnPro Industries from a sell rating to a hold rating in a research note on Tuesday, June 13th. Finally, TheStreet raised shares of EnPro Industries from a c+ rating to a b- rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $83.33.
EnPro Industries (NPO) opened at 74.63 on Tuesday. The stock has a 50 day moving average of $71.65 and a 200-day moving average of $69.67. The company has a market capitalization of $1.59 billion, a PE ratio of 87.39 and a beta of 1.10. EnPro Industries has a 12-month low of $52.00 and a 12-month high of $77.65.
EnPro Industries (NYSE:NPO) last issued its earnings results on Monday, July 31st. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.35). EnPro Industries had a net margin of 1.56% and a return on equity of 8.71%. The firm had revenue of $347.00 million during the quarter, compared to analyst estimates of $347.13 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts expect that EnPro Industries will post $2.61 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.18%. EnPro Industries’s dividend payout ratio (DPR) is 103.53%.
In other EnPro Industries news, insider Todd L. Anderson sold 2,148 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $72.67, for a total transaction of $156,095.16. Following the sale, the insider now owns 9,000 shares of the company’s stock, valued at $654,030. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen E. Macadam sold 26,318 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $74.08, for a total transaction of $1,949,637.44. Following the sale, the insider now directly owns 245,765 shares in the company, valued at approximately $18,206,271.20. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NPO. BlackRock Inc. grew its stake in shares of EnPro Industries by 126,215.4% during the first quarter. BlackRock Inc. now owns 2,600,835 shares of the industrial products company’s stock worth $185,076,000 after buying an additional 2,598,776 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of EnPro Industries during the first quarter worth $13,901,000. Sound Point Capital Management LP grew its stake in shares of EnPro Industries by 68.4% during the first quarter. Sound Point Capital Management LP now owns 331,524 shares of the industrial products company’s stock worth $23,591,000 after buying an additional 134,681 shares during the last quarter. Castleark Management LLC bought a new stake in shares of EnPro Industries during the second quarter worth $6,456,000. Finally, Gamco Investors INC. ET AL grew its stake in shares of EnPro Industries by 42.2% during the second quarter. Gamco Investors INC. ET AL now owns 298,820 shares of the industrial products company’s stock worth $21,327,000 after buying an additional 88,620 shares during the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.
About EnPro Industries
EnPro Industries, Inc is engaged in the designing, developing, manufacturing and marketing engineered industrial products. It operates through three segments. The Sealing Products segment includes three operating divisions: Garlock, which designs, manufactures and sells sealing products; Technetics, which designs, manufactures and sells metal seals and elastomeric seals, among others, and Stemco LP (Stemco), which designs, manufactures and sells heavy-duty truck wheel-end components and systems.
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