ValuEngine upgraded shares of Versum Materials Inc. (NYSE:VSM) from a hold rating to a buy rating in a report issued on Wednesday morning.
A number of other analysts also recently commented on the company. Aegis upgraded Versum Materials from a hold rating to a buy rating and set a $39.00 price objective for the company in a research report on Friday, June 23rd. Zacks Investment Research downgraded Versum Materials from a buy rating to a hold rating in a research report on Friday, July 7th. Credit Suisse Group set a $35.00 price objective on Versum Materials and gave the stock a buy rating in a research report on Wednesday, June 14th. Needham & Company LLC initiated coverage on Versum Materials in a research report on Monday, July 10th. They issued a buy rating and a $38.00 price objective for the company. Finally, Jefferies Group LLC reiterated a hold rating and issued a $38.00 price objective (up previously from $34.00) on shares of Versum Materials in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Versum Materials has an average rating of Buy and an average price target of $35.27.
Shares of Versum Materials (NYSE:VSM) opened at 37.84 on Wednesday. The stock has a 50 day moving average price of $37.83 and a 200-day moving average price of $37.83. Versum Materials has a one year low of $21.86 and a one year high of $38.38. The company has a market capitalization of $4.12 billion and a P/E ratio of 21.38.
Versum Materials (NYSE:VSM) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.08. Versum Materials had a negative return on equity of 261.88% and a net margin of 17.91%. The company had revenue of $290.80 million during the quarter, compared to the consensus estimate of $265.64 million. During the same quarter last year, the company earned $0.45 EPS. The company’s quarterly revenue was up 19.8% on a year-over-year basis. Equities research analysts predict that Versum Materials will post $1.91 earnings per share for the current fiscal year.
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In related news, Director Jacques M. Croisetiere bought 2,750 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average cost of $36.00 per share, with a total value of $99,000.00. Following the acquisition, the director now owns 8,376 shares in the company, valued at approximately $301,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Versum Materials by 2.2% in the 2nd quarter. California State Teachers Retirement System now owns 199,672 shares of the basic materials company’s stock worth $6,489,000 after buying an additional 4,340 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Versum Materials by 10.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,393 shares of the basic materials company’s stock worth $598,000 after buying an additional 1,731 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Versum Materials by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 592,701 shares of the basic materials company’s stock worth $19,263,000 after buying an additional 53,052 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Versum Materials by 34.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 402,776 shares of the basic materials company’s stock worth $13,090,000 after buying an additional 104,000 shares in the last quarter. Finally, CNH Partners LLC raised its holdings in shares of Versum Materials by 0.8% in the 2nd quarter. CNH Partners LLC now owns 933,595 shares of the basic materials company’s stock worth $30,342,000 after buying an additional 7,464 shares in the last quarter. 89.59% of the stock is owned by institutional investors and hedge funds.
Versum Materials Company Profile
Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.
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