Napco Security hits all-time high on Q2 earnings beat

NAPCO Security Technologies

06/02/2023 19:32

** Shares of security device manufacturer Napco Security
Technologies Inc  NSSC.O  jump 16.3% to their all time intra-day
high of $36.2     
    ** Reports qtrly adj EPS of 23 cents vs. est. 14 cents -
Refintiv Data
    ** Q2 sales $42.3 mln vs. est. $39.1 mln - Refinitiv Data
    ** Co attributes results to strong demand for its Starlink
radios, Alarm Lock, Marks locking products and Continental
access control systems
    ** "We expect this demand to continue through the balance of
fiscal 2023 and into next year" - NSSC Chairman Richard Soloway
    ** All five brokerages rate the stock "buy" or higher; their
median PT is $34 - Refinitiv IBES Data
    ** Stock currently trades above the median PT of $34 set by
all five brokerages on Refinitiv IBES Data
    ** Stock had risen 27% YTD vs a 10% rise in 2022
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))