Newport Corp. Given New $22.00 Price Target at Needham & Company (NEWP)
Analysts at Needham & Company lifted their target price on shares of Newport Corp. (NASDAQ:NEWP) from $19.00 to $22.00 in a research report issued to clients and investors on Thursday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price objective suggests a potential upside of 15.73% from the company’s current price.
A number of other analysts have also recently weighed in on NEWP. Analysts at Zacks downgraded shares of Newport Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 31st. They now have a $19.60 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Newport Corp. from $17.00 to $19.00 in a research note to investors on Tuesday, November 5th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Newport Corp. has an average rating of “Buy” and an average target price of $20.20.
Newport Corp. (NASDAQ:NEWP) opened at 19.01 on Thursday. Newport Corp. has a one year low of $12.81 and a one year high of $19.10. The stock has a 50-day moving average of $17.48 and a 200-day moving average of $16.00. The company’s market cap is $744.1 million.
Newport Corp. (NASDAQ:NEWP) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.10 by $0.21. The company had revenue of $139.00 million for the quarter, compared to the consensus estimate of $139.95 million. During the same quarter last year, the company posted $0.35 earnings per share. Newport Corp.’s revenue was down 2.7% compared to the same quarter last year. On average, analysts predict that Newport Corp. will post $0.33 earnings per share for the current fiscal year.
Newport Corporation is a supplier of advanced technology products and systems to a range of industries, including scientific research, microelectronics, aerospace and defence/security, life and health sciences, and industrial markets.
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