Neenah Paper (NP) is Downgraded by DA Davidson to Neutral, Lowers Price Target to $ 78

Neenah Paper (NP) was Downgraded by DA Davidson to ” Neutral” while Lowering the Price Target of the company shares to $ 78 from a previous price target of $78 . Earlier the firm had a rating of “Buy ” on the company shares. DA Davidson advised their investors in a research report released on Aug 5, 2016.

On the company’s financial health, Neenah Paper reported $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.14. The company had revenue of $246.00 million for the quarter, compared to analysts expectations of $250.55 million. The company’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.

Neenah Paper opened for trading at $76.72 and hit $78.98 on the upside on Thursday, eventually ending the session at $77.72, with a gain of 2.21% or 1.68 points. The heightened volatility saw the trading volume jump to 1,03,533 shares. Company has a market cap of $1,301 M.

In a different news, on Jun 10, 2016, Larry Newton Brownlee (VP & Controller) sold 714 shares at $73.11 per share price. According to the SEC, on Jun 9, 2016, Timothy S Lucas (director) sold 1,493 shares at $71.09 per share price. On Jun 8, 2016, Bonnie Cruickshank Lind (SVP, CFO & Treasurer) sold 4,348 shares at $70.88 per share price, according to the Form-4 filing with the securities and exchange commission.

Neenah Paper Inc. (Neenah) has two primary businesses: technical products business and fine paper and packaging business. The Company’s technical products business is engaged in the production of filter media for transportation water and other markets and saturated and coated substrates for industrial products backings and a variety of other end markets. The technical products brands include JET-PRO SofStretch KIMDURA MUNISING LP PREVAIL NEENAH GESSNER and varieties. The Company’s fine paper and packaging business supplies printing packaging and other specialty papers in North America. The fine paper and packaging brands include CLASSIC ENVIRONMENT CAPITOL BOND ROYAL SUNDANCE SOUTHWORTH CLASSIC CREST ESSE ASTROBRIGHTS and EXACT BRIGHTS. In addition the Company also operates other segment which includes the Index Tag and Vellum Bristol product lines.

Neenah Paper

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