Novanta Inc (NASDAQ: NOVT) has reported earnings for its first fiscal quarter (ending March 31) of $0.41 versus $0.51 for the same period a year ago — a decline of -20%. For the latest four quarters through March 31, E.P.S. were $1.93 compared to $2.06 a year ago — a decline of -6%.
Recent Price Action
Novanta Inc (NASDAQ: NOVT) stock closed at $161.84 on 5/7/24 after a modest gain of 0.4%. Moreover, this advance was accompanied by unusually high trading volume at 196% of normal. The stock has risen 1.1% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, NOVT is expected to continue to be a major Value Builder.
Novanta has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Novanta has a very low Appreciation Score of 10 but a neutral Power Rating of 60, leading to the Negative Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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