Zacks Investment Research Upgrades Northern Technologies International (NASDAQ:NTIC) to Buy

Northern Technologies International (NASDAQ:NTIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm currently has a $13.00 price target on the specialty chemicals company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.43% from the company’s current price.

According to Zacks, “Northern Technologies International Corporation (NTIC) develops and markets proprietary environmentally beneficial products and technical services either directly or via a network of joint ventures and independent distributors in over fifty countries. NTIC’s primary business is corrosion prevention. NTIC has been selling its proprietary ZERUST and EXCOR rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets. The company’s technical service consultants work directly with the end users of NTIC’s products to analyze their specific needs and develop systems to meet their technical requirements. In addition, NTIC launched a new product line of compounds and finished products based on a portfolio of proprietary bio-plastic technologies under the Natur- Tec brand. NTIC also is in various stages of development with respect to several other emerging businesses. “

Several other equities research analysts have also commented on the stock. ValuEngine upgraded shares of Northern Technologies International from a “hold” rating to a “buy” rating in a report on Thursday. Northland Securities started coverage on shares of Northern Technologies International in a report on Thursday, September 12th. They issued an “outperform” rating and a $16.00 price target for the company.

Shares of NASDAQ:NTIC traded down $0.15 on Friday, reaching $11.88. The company’s stock had a trading volume of 3,600 shares, compared to its average volume of 4,967. Northern Technologies International has a 52-week low of $10.02 and a 52-week high of $17.50. The company has a market cap of $109.34 million, a P/E ratio of 21.60 and a beta of 1.03. The company has a 50-day simple moving average of $12.16 and a 200 day simple moving average of $16.03.

Northern Technologies International (NASDAQ:NTIC) last posted its quarterly earnings results on Tuesday, November 12th. The specialty chemicals company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). Northern Technologies International had a net margin of 9.35% and a return on equity of 8.88%. The business had revenue of $13.45 million during the quarter, compared to the consensus estimate of $15.20 million. Equities research analysts predict that Northern Technologies International will post 0.65 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised its stake in shares of Northern Technologies International by 333.4% during the 2nd quarter. Morgan Stanley now owns 1,621 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 1,247 shares in the last quarter. Creative Planning bought a new position in shares of Northern Technologies International during the 3rd quarter worth approximately $165,000. California Public Employees Retirement System raised its stake in shares of Northern Technologies International by 100.0% during the 3rd quarter. California Public Employees Retirement System now owns 21,400 shares of the specialty chemicals company’s stock worth $270,000 after acquiring an additional 10,700 shares in the last quarter. Sheets Smith Wealth Management raised its stake in shares of Northern Technologies International by 100.5% during the 3rd quarter. Sheets Smith Wealth Management now owns 39,365 shares of the specialty chemicals company’s stock worth $483,000 after acquiring an additional 19,734 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Northern Technologies International by 31.7% during the 2nd quarter. BlackRock Inc. now owns 21,774 shares of the specialty chemicals company’s stock worth $533,000 after acquiring an additional 5,240 shares in the last quarter. Hedge funds and other institutional investors own 17.33% of the company’s stock.

Northern Technologies International Company Profile

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services to automotive, electronics, electrical, mechanical, military, retail consumer, and oil and gas markets. It offers rust and corrosion inhibiting products, such as plastic and paper packaging, liquids, coatings, rust removers, cleaners, diffusers, and engineered solutions designed for the oil and gas industry under the ZERUST brand.

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