nLight (NASDAQ:LASR) Price Target Raised to $28.00

Key Points

• Raymond James Financial raised nLight's price target from $20.00 to $28.00, indicating a potential upside of 8.49% from the previous close.
• Other brokerages, including Needham and Stifel Nicolaus, also increased their price targets for nLight, with the average target now at $26.42 and a consensus rating of Buy.
• nLight's shares rose 26.1% on Friday, reaching $25.81, following a quarterly earnings report that exceeded analysts' expectations.

nLight (NASDAQ:LASR - Get Free Report) had its price objective raised by Raymond James Financial from $20.00 to $28.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "strong-buy" rating on the stock. Raymond James Financial's target price would suggest a potential upside of 8.49% from the company's previous close.

Several other brokerages have also issued reports on LASR. Needham & Company LLC raised their price target on shares of nLight from $18.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday. Stifel Nicolaus upped their price target on nLight from $12.00 to $26.00 and gave the company a "buy" rating in a research report on Friday. Benchmark boosted their price objective on nLight from $15.00 to $25.00 and gave the company a "speculative buy" rating in a research note on Friday. Craig Hallum reiterated a "buy" rating and issued a $24.00 price objective (up from $14.00) on shares of nLight in a research note on Thursday, June 26th. Finally, Cantor Fitzgerald lifted their price target on nLight from $14.00 to $27.50 and gave the company an "overweight" rating in a research report on Friday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, nLight presently has a consensus rating of "Buy" and an average price target of $26.42.

nLight Trading Up 26.1%

Shares of nLight stock traded up $5.34 on Friday, reaching $25.81. 1,552,690 shares of the company's stock were exchanged, compared to its average volume of 582,425. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.63 and a current ratio of 5.81. nLight has a 52 week low of $6.20 and a 52 week high of $27.00. The firm's 50-day moving average is $18.84 and its two-hundred day moving average is $12.87. The company has a market capitalization of $1.28 billion, a P/E ratio of -22.80 and a beta of 2.35.

nLight (NASDAQ:LASR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.15. nLight had a negative net margin of 26.80% and a negative return on equity of 22.23%. The company had revenue of $61.74 million for the quarter, compared to analyst estimates of $55.24 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The firm's revenue was up 22.2% compared to the same quarter last year. Sell-side analysts predict that nLight will post -1.1 EPS for the current fiscal year.

Insider Transactions at nLight

In other news, CEO Scott H. Keeney sold 75,000 shares of nLight stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total transaction of $1,149,750.00. Following the transaction, the chief executive officer owned 1,342,927 shares in the company, valued at $20,587,070.91. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Joseph John Corso sold 10,062 shares of nLight stock in a transaction on Friday, June 13th. The shares were sold at an average price of $17.62, for a total value of $177,292.44. Following the transaction, the chief financial officer owned 166,362 shares in the company, valued at $2,931,298.44. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 201,915 shares of company stock worth $3,445,301. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nLight

Several large investors have recently made changes to their positions in LASR. American Century Companies Inc. raised its position in nLight by 11.1% during the fourth quarter. American Century Companies Inc. now owns 90,206 shares of the company's stock valued at $946,000 after purchasing an additional 9,030 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in nLight during the 4th quarter valued at $102,000. Franklin Resources Inc. lifted its position in nLight by 145.0% in the fourth quarter. Franklin Resources Inc. now owns 64,295 shares of the company's stock worth $674,000 after buying an additional 38,050 shares during the last quarter. Wells Fargo & Company MN boosted its stake in nLight by 26.6% during the fourth quarter. Wells Fargo & Company MN now owns 31,227 shares of the company's stock worth $328,000 after buying an additional 6,561 shares during the period. Finally, Russell Investments Group Ltd. increased its position in nLight by 3,951.6% during the fourth quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock valued at $39,000 after acquiring an additional 3,596 shares during the last quarter. 83.88% of the stock is owned by institutional investors.

About nLight

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications.

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