KeyCorp Issues Positive Forecast for Vontier (NYSE:VNT) Stock Price

Key Points

• KeyCorp raised its Vontier price target from $40 to $43 and maintained an Overweight rating, implying 8.48% upside from the prior close. Analysts’ overall consensus rating is Hold, with an average target of $41.43.
• Vontier’s latest quarterly results beat expectations: EPS was $0.92 versus $0.84 forecast, and revenue was $736.9 million versus $728.0 million expected.
• Despite the earnings beat, revenue fell 2.1% year over year and the demand outlook was described as cautious, tempering the positive impact of margin expansion and cost savings.

Vontier (NYSE:VNT - Get Free Report) had its price objective boosted by stock analysts at KeyCorp from $40.00 to $43.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's price target indicates a potential upside of 8.48% from the company's previous close.

Several other brokerages have also issued reports on VNT. Wolfe Research reiterated an "outperform" rating and issued a $43.00 price objective on shares of Vontier in a research report on Thursday, July 9th. Weiss Ratings raised Vontier from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 4th. Finally, Robert W. Baird set a $39.00 target price on shares of Vontier in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $41.43.

Vontier Trading Down 0.7%

VNT opened at $39.64 on Friday. The firm's 50 day moving average is $33.03 and its 200-day moving average is $33.77. The company has a quick ratio of 0.94, a current ratio of 1.25 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $5.36 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.29 and a beta of 1.13. Vontier has a 52-week low of $27.25 and a 52-week high of $48.20.

Vontier (NYSE:VNT - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. Vontier had a return on equity of 38.57% and a net margin of 11.34%. The company had revenue of $736.90 million during the quarter, compared to the consensus estimate of $727.98 million. During the same period in the prior year, the company earned $0.78 earnings per share. The company's revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts expect that Vontier will post 3.49 EPS for the current fiscal year.

Institutional Trading of Vontier

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Vontier during the 2nd quarter worth approximately $388,315,000. Corient Private Wealth LP acquired a new position in Vontier during the second quarter worth $65,037,000. Heron Bay Capital Management acquired a new position in Vontier during the second quarter worth $55,830,000. Jupiter Topco LLC bought a new stake in Vontier during the second quarter worth $41,904,000. Finally, Bank of New York Mellon Corp bought a new stake in Vontier during the second quarter worth $30,220,000. 95.83% of the stock is currently owned by institutional investors.

Key Vontier News

Here are the key news stories impacting Vontier this week:

• Positive Sentiment: Vontier reported Q3 adjusted earnings of $0.92 per share, above the $0.84 consensus, and revenue of $736.9 million, ahead of expectations of $728.0 million. Earnings also rose from $0.78 a year earlier. Vontier Q3 earnings results
• Positive Sentiment: Coverage of the earnings call highlighted margin expansion and cost savings as key drivers, reinforcing the view that operational improvements are helping offset softer sales. Q3 earnings call highlights
• Positive Sentiment: Vontier declared a regular dividend, providing continued income for shareholders. The announcement provided no dividend amount in the supplied information. Vontier declares regular dividend
• Negative Sentiment: Revenue declined 2.1% year over year, and the company’s outlook reportedly reflects caution about demand. That softer top-line trend could limit the durability of gains from cost controls and improved margins. Q3 deep dive and demand outlook

Vontier Company Profile

Vontier Corporation NYSE: VNT is a global industrial technology company that develops and provides solutions for the mobility, transportation and connected infrastructure markets. Its products and services help businesses manage fueling, fleet operations, vehicle maintenance, repair and diagnostics, and related workflows.

Vontier's portfolio includes technologies for retail and commercial fueling, fuel measurement and environmental compliance, fleet tracking and telematics, automotive repair equipment, diagnostic tools and aftermarket services.

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