Shares of Novanta Inc (NASDAQ:NOVT) have earned an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokerages have set a 12-month consensus price objective of $83.00 for the company and are forecasting that the company will post $0.54 EPS for the current quarter, according to Zacks. Zacks has also assigned Novanta an industry rank of 98 out of 256 based on the ratings given to its competitors.
A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of Novanta from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 30th. Zacks Investment Research upgraded shares of Novanta from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Saturday, May 11th. Finally, Robert W. Baird upped their price target on shares of Novanta from $61.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, February 28th.
Shares of Novanta stock opened at $82.52 on Thursday. Novanta has a 52-week low of $55.68 and a 52-week high of $89.78. The firm has a market capitalization of $2.89 billion, a PE ratio of 38.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.83 and a quick ratio of 1.78.
Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Novanta had a net margin of 7.92% and a return on equity of 19.26%. The company had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $155.85 million. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Novanta will post 2.41 EPS for the current year.
Novanta Company Profile
Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
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