Nanometrics Price Target Raised to $20.00 at Canaccord Genuity (NANO)
Equities research analysts at Canaccord Genuity hoisted their price objective on shares of Nanometrics (NASDAQ:NANO) from $19.00 to $20.00 in a research note issued to investors on Wednesday, Analyst Ratings Net reports. Canaccord Genuity’s target price would suggest a potential upside of 21.88% from the stock’s previous close.
Nanometrics (NASDAQ:NANO) traded up 6.28% during mid-day trading on Wednesday, hitting $17.44. The stock had a trading volume of 203,969 shares. Nanometrics has a 52-week low of $13.32 and a 52-week high of $19.94. The stock’s 50-day moving average is $18.04 and its 200-day moving average is $16.6. The company’s market cap is $407.2 million.
Nanometrics (NASDAQ:NANO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. The company had revenue of $46.16 million for the quarter, compared to the consensus estimate of $44.88 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 52.5% on a year-over-year basis. On average, analysts predict that Nanometrics will post $0.61 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on NANO. Analysts at RBC Capital downgraded shares of Nanometrics from an “outperform” rating to a “sector perform” rating in a research note to investors on Monday. They now have a $18.00 price target on the stock. Analysts at Stifel Nicolaus downgraded shares of Nanometrics from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, December 18th. They now have a $18.00 price target on the stock. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.33.
Nanometrics Incorporated (NASDAQ:NANO) is a provider of advanced, high-performance process control metrology and inspection systems used primarily in the fabrication of integrated circuits, high-brightness (HB) light emitting diodes (LEDs), data storage devices and solar photovoltaics (solar PV).
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