Versigent (NYSE:VGNT) Stock Has Consensus Price Target of $54.00 According to Analysts

Versigent (NYSE:VGNT – Get Free Report) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $55.08.

Several research analysts have commented on the stock. Oppenheimer set a $50.00 target price on shares of Versigent in a research report on Tuesday, July 21st. Argus upped their target price on shares of Versigent from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. BNP Paribas Exane reiterated an “outperform” rating and set a $54.00 price objective (down from $55.00) on shares of Versigent in a research report on Thursday. Royal Bank Of Canada reduced their price target on Versigent from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Weiss Ratings upgraded shares of Versigent from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th.

Read Our Latest Analysis on Versigent

Versigent News Roundup

Here are the key news stories impacting Versigent this week:

  • Positive Sentiment: Versigent reported third-quarter EPS of $1.91, above the $1.79 consensus, and revenue of $2.45 billion, topping expectations of $2.42 billion. The results provide a positive earnings catalyst. Versigent Q3 results
  • Positive Sentiment: TD Cowen raised its price target to $59 from $58 and maintained a Buy rating, signaling continued confidence in the shares. TD Cowen rating
  • Neutral Sentiment: Versigent’s CFO is scheduled to participate in an RBC Capital Markets industrials conference on November 17. The event may provide investor updates but is not itself a business announcement. Conference announcement
  • Negative Sentiment: Royal Bank of Canada lowered its target to $52 from $53, while retaining an Outperform rating. BNP Paribas Exane also cut its target, to $54 from $55, but reaffirmed Outperform. The modest reductions temper the otherwise positive analyst outlook. RBC target update BNP Paribas Exane rating update

Insider Transactions at Versigent

In related news, Director Kevin Clark sold 47,761 shares of the business’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $44.36, for a total transaction of $2,118,677.96. Following the transaction, the director owned 27,571 shares in the company, valued at $1,223,049.56. The trade was a 63.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 220,000 shares of company stock valued at $10,065,848.

Hedge Funds Weigh In On Versigent

A number of large investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH purchased a new stake in shares of Versigent during the 2nd quarter worth approximately $20,602,000. HBK Investments L P purchased a new position in shares of Versigent during the 2nd quarter valued at $14,439,000. William Blair Investment Management LLC bought a new stake in shares of Versigent during the 3rd quarter valued at $11,751,000. Steamboat Capital Partners LLC purchased a new position in shares of Versigent in the second quarter valued at $10,385,000. Finally, WINTON GROUP Ltd purchased a new stake in Versigent in the second quarter valued at approximately $8,397,000.

Versigent Trading Up 1.5%

Shares of VGNT opened at $40.87 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 7.29. Versigent has a 1 year low of $26.34 and a 1 year high of $50.88. The stock has a 50 day simple moving average of $44.78 and a two-hundred day simple moving average of $42.68.

Versigent (NYSE:VGNT – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.12. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.42 billion. On average, equities analysts anticipate that Versigent will post 7.37 EPS for the current fiscal year.

Versigent Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.3%.

About Versigent

(Get Free Report)

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.

Recommended Stories

Analyst Recommendations for Versigent (NYSE:VGNT)

Receive News & Ratings for Versigent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Versigent and related companies with MarketBeat.com's FREE daily email newsletter.