Zacks Investment Research upgraded shares of Northern Technologies International (NASDAQ:NTIC) from a sell rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.
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. “
NTIC has been the subject of a number of other research reports. ValuEngine upgraded shares of Northern Technologies International from a hold rating to a buy rating in a report on Wednesday, July 29th. Northland Securities increased their price objective on shares of Northern Technologies International from $13.00 to $15.00 and gave the company an outperform rating in a report on Friday, November 13th.
Shares of NTIC opened at $8.76 on Friday. The firm has a market capitalization of $79.72 million, a PE ratio of 67.39 and a beta of 1.21. Northern Technologies International has a 1-year low of $4.70 and a 1-year high of $14.88. The company’s fifty day moving average price is $8.47 and its 200-day moving average price is $8.26.
Northern Technologies International (NASDAQ:NTIC) last released its quarterly earnings results on Thursday, November 12th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.14). Northern Technologies International had a return on equity of 2.09% and a net margin of 2.46%. On average, equities research analysts forecast that Northern Technologies International will post -0.01 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the business. Acuitas Investments LLC acquired a new stake in Northern Technologies International during the second quarter worth $1,608,000. Punch & Associates Investment Management Inc. lifted its holdings in shares of Northern Technologies International by 4.4% during the third quarter. Punch & Associates Investment Management Inc. now owns 377,015 shares of the specialty chemicals company’s stock valued at $3,129,000 after acquiring an additional 15,800 shares during the period. RBF Capital LLC bought a new position in shares of Northern Technologies International during the second quarter valued at $109,000. Finally, Bridgeway Capital Management Inc. lifted its holdings in shares of Northern Technologies International by 6.8% during the second quarter. Bridgeway Capital Management Inc. now owns 29,800 shares of the specialty chemicals company’s stock valued at $238,000 after acquiring an additional 1,900 shares during the period. Institutional investors own 38.25% 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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