Northern Technologies International (NASDAQ:NTIC) Upgraded to “Strong-Buy” by Zacks Investment Research


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Northern Technologies International (NASDAQ:NTIC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $17.00 price target on the specialty chemicals company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.11% 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. “

Separately, TheStreet lowered Northern Technologies International from a “b-” rating to a “c” rating in a report on Friday, April 9th.

Shares of NASDAQ:NTIC opened at $15.30 on Wednesday. Northern Technologies International has a one year low of $5.64 and a one year high of $17.35. The stock has a fifty day moving average of $15.62 and a 200-day moving average of $11.93. The company has a market capitalization of $139.31 million, a PE ratio of -101.99 and a beta of 1.22.

Northern Technologies International (NASDAQ:NTIC) last announced its quarterly earnings data on Wednesday, April 7th. The specialty chemicals company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Northern Technologies International had a positive return on equity of 0.52% and a negative net margin of 2.81%. As a group, research analysts expect that Northern Technologies International will post 0.48 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTIC. Falcon Point Capital LLC purchased a new stake in shares of Northern Technologies International in the fourth quarter valued at $301,000. Renaissance Technologies LLC increased its stake in shares of Northern Technologies International by 16.6% in the fourth quarter. Renaissance Technologies LLC now owns 156,388 shares of the specialty chemicals company’s stock worth $1,651,000 after acquiring an additional 22,211 shares during the last quarter. Sheets Smith Wealth Management increased its stake in shares of Northern Technologies International by 21.4% in the fourth quarter. Sheets Smith Wealth Management now owns 44,123 shares of the specialty chemicals company’s stock worth $466,000 after acquiring an additional 7,785 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in shares of Northern Technologies International by 2.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 384,614 shares of the specialty chemicals company’s stock worth $4,062,000 after acquiring an additional 7,599 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Northern Technologies International by 15.8% in the fourth quarter. BlackRock Inc. now owns 35,848 shares of the specialty chemicals company’s stock worth $378,000 after acquiring an additional 4,878 shares during the last quarter. Institutional investors own 35.69% of the company’s stock.

Northern Technologies International Company Profile

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services 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.

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