B.Riley FBR Sticks to Its Buy Rating for Enpro Industries

By Austin Angelo

In a report released today, Liam Burke from B.Riley FBR maintained a Buy rating on Enpro Industries (NYSE: NPO). The company’s shares opened today at $76.97.

Burke wrote:

“NPO shares have been off to a tough start in 2018 despite a strong finish to 2017 and solid momentum into the next fiscal year. Although the legacy asbestos liability has created a complicated reporting structure, the liability is behind the company and based on a solid outlook and a much simpler operating platform, we are maintaining our price target on NPO shares of $100.00 and our Buy rating. EnPro has worked through a 40-year asbestos liability, which translates into a much more straightforward business model. The company operates a business with a diverse customer base and is a high-value provider within its market segments. The company can drive long-term revenue growth through new product introductions and selective acquisitions. With EnPro’s history of lean culture, operating margins should continue to improve on low-single-digit sales growth. With sustainable underlying revenue and margin growth, the company is driving strong free cash flow and improving ROIC.”

According to TipRanks.com, Burke is a 3-star analyst with an average return of 2.6% and a 58.0% success rate. Burke covers the Industrial Goods sector, focusing on stocks such as Standex International Corp, Lincoln Electric Holdings, and Carlisle Companies Inc.

Currently, the analyst consensus on Enpro Industries is Strong Buy and the average price target is $102.50, representing a 33.2% upside.

In a report issued on February 13, Oppenheimer also maintained a Buy rating on the stock with a $100 price target.

Enpro Industries’ market cap is currently $1.62B and has a P/E ratio of 3.29. The company has a book value ratio of 1.8682.

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EnPro Industries, Inc. engages in the provision of sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines, and engineered products for use in critical applications. It operates through the following segments: Sealing Products, Engineered Products and Power Systems.