Zacks Investment Research Lowers Northern Technologies International (NASDAQ:NTIC) to Sell

Northern Technologies International (NASDAQ:NTICGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, 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 topic of several other research reports. Northland Securities dropped their target price on Northern Technologies International from $24.00 to $18.00 in a report on Friday, April 8th. StockNews.com started coverage on shares of Northern Technologies International in a research report on Tuesday, April 19th. They issued a “hold” rating on the stock. Finally, TheStreet lowered shares of Northern Technologies International from a “b-” rating to a “c+” rating in a research report on Wednesday, April 20th.

Shares of NASDAQ:NTIC opened at $11.44 on Tuesday. Northern Technologies International has a 12 month low of $10.56 and a 12 month high of $21.50. The company has a market capitalization of $105.50 million, a PE ratio of 13.30 and a beta of 1.08. The business’s 50 day moving average price is $12.38.

Northern Technologies International (NASDAQ:NTICGet Rating) last announced its earnings results on Thursday, April 7th. The specialty chemicals company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.02). Northern Technologies International had a return on equity of 7.24% and a net margin of 12.73%. During the same period in the prior year, the firm posted $0.13 EPS. As a group, analysts anticipate that Northern Technologies International will post 0.43 EPS for the current year.

A number of institutional investors have recently bought and sold shares of NTIC. Barclays PLC grew its position in Northern Technologies International by 521.3% during the 3rd quarter. Barclays PLC now owns 2,013 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 1,689 shares in the last quarter. Geode Capital Management LLC grew its position in Northern Technologies International by 8.9% during the 3rd quarter. Geode Capital Management LLC now owns 61,636 shares of the specialty chemicals company’s stock worth $939,000 after purchasing an additional 5,046 shares in the last quarter. Essex Investment Management Co. LLC grew its position in Northern Technologies International by 25.3% during the 4th quarter. Essex Investment Management Co. LLC now owns 47,980 shares of the specialty chemicals company’s stock worth $734,000 after purchasing an additional 9,675 shares in the last quarter. Compass Ion Advisors LLC purchased a new position in Northern Technologies International during the 1st quarter worth approximately $165,000. Finally, PNC Financial Services Group Inc. purchased a new position in Northern Technologies International during the 3rd quarter worth approximately $304,000. Hedge funds and other institutional investors own 35.40% of the company’s stock.

About Northern Technologies International (Get Rating)

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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