EnPro Industries (NYSE:NPO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $105.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.92% from the stock’s current price.
According to Zacks, “EnPro Industries, Inc. is a diversified manufacturer of proprietary engineered products used in critical applications. EnPro Industries are a leader in sealing technologies, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other solutions that meet the needs of industries worldwide. EnPro Industries commitment to innovation, quality and value has propelled our brands to wide recognition and leading positions in their markets. EnPro businesses manufacture high quality products and provide high quality services to the customers. These products and services are sold into more than 40 distinct industries with thousands of applications, ranging from jet engines to chemical plants, oil wells to semiconductor clean rooms and Navy ships to tractor-trailer trucks. EnPro operates manufacturing facilities in North and South America, Europe and Asia. “
Other research analysts also recently issued reports about the stock. FBR & Co reaffirmed a “buy” rating and issued a $85.00 target price on shares of EnPro Industries in a research note on Tuesday, September 12th. B. Riley set a $100.00 target price on shares of EnPro Industries and gave the stock a “buy” rating in a research note on Tuesday, November 21st. KeyCorp reaffirmed a “hold” rating on shares of EnPro Industries in a research note on Friday, October 20th. Finally, Oppenheimer lifted their target price on shares of EnPro Industries from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $99.17.
EnPro Industries (NYSE:NPO) last issued its earnings results on Monday, October 30th. The industrial products company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.16). EnPro Industries had a return on equity of 7.92% and a net margin of 40.74%. The firm had revenue of $343.70 million during the quarter, compared to analysts’ expectations of $324.00 million. During the same period in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. equities analysts forecast that EnPro Industries will post 2.72 EPS for the current fiscal year.
EnPro Industries announced that its board has authorized a stock repurchase plan on Monday, October 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, insider Stephen E. Macadam sold 25,000 shares of EnPro Industries stock in a transaction on Monday, November 6th. The shares were sold at an average price of $84.06, for a total value of $2,101,500.00. Following the sale, the insider now owns 194,447 shares in the company, valued at $16,345,214.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in NPO. Russell Investments Group Ltd. boosted its holdings in EnPro Industries by 45.5% in the second quarter. Russell Investments Group Ltd. now owns 22,697 shares of the industrial products company’s stock valued at $1,620,000 after acquiring an additional 7,095 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in EnPro Industries by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 131,708 shares of the industrial products company’s stock valued at $9,400,000 after acquiring an additional 4,045 shares in the last quarter. First Trust Advisors LP bought a new stake in EnPro Industries in the second quarter valued at $1,381,000. Legal & General Group Plc boosted its holdings in EnPro Industries by 12.1% in the second quarter. Legal & General Group Plc now owns 42,722 shares of the industrial products company’s stock valued at $3,051,000 after acquiring an additional 4,597 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in EnPro Industries by 80.4% in the second quarter. BNP Paribas Arbitrage SA now owns 7,810 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 3,480 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.
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EnPro Industries Company Profile
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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