StockNews.com Lowers Northern Technologies International (NASDAQ:NTIC) to Hold

Northern Technologies International (NASDAQ:NTIC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Separately, Northland Securities boosted their price objective on Northern Technologies International from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th.

Northern Technologies International Trading Down 6.9 %

NTIC stock opened at $13.02 on Thursday. The stock has a 50-day moving average price of $17.28 and a two-hundred day moving average price of $14.89. The company has a market cap of $122.78 million, a PE ratio of 25.04 and a beta of 0.62. Northern Technologies International has a 12-month low of $10.08 and a 12-month high of $19.63.

Northern Technologies International (NASDAQ:NTIC) last issued its quarterly earnings data on Thursday, July 11th. The specialty chemicals company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The company had revenue of $20.69 million for the quarter, compared to analyst estimates of $23.00 million. Northern Technologies International had a return on equity of 6.68% and a net margin of 6.12%. During the same quarter in the prior year, the firm earned $0.17 EPS. Equities analysts forecast that Northern Technologies International will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sheets Smith Wealth Management lifted its stake in shares of Northern Technologies International by 27.3% in the fourth quarter. Sheets Smith Wealth Management now owns 55,311 shares of the specialty chemicals company’s stock worth $652,000 after acquiring an additional 11,877 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Northern Technologies International by 10.9% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 26,724 shares of the specialty chemicals company’s stock worth $317,000 after acquiring an additional 2,634 shares in the last quarter. Penn Mutual Asset Management LLC lifted its stake in shares of Northern Technologies International by 40.8% in the fourth quarter. Penn Mutual Asset Management LLC now owns 23,860 shares of the specialty chemicals company’s stock worth $281,000 after acquiring an additional 6,910 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Northern Technologies International in the fourth quarter worth about $83,000. Institutional investors and hedge funds own 32.88% of the company’s stock.

About Northern Technologies International

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting solutions in North America, South America, Europe, Asia, the Middle East and internationally. 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.