Versigent (NYSE:VGNT) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Versigent, with 11 buy ratings and three holds among 14 covering brokerages. The average 12-month price target is $54, versus the stock’s reported $46.11 opening price.
• Versigent’s latest quarterly results exceeded expectations, with earnings of $1.92 per share versus the $1.58 consensus estimate and revenue of $2.44 billion versus $2.29 billion expected.
• The company declared a quarterly dividend of $0.13 per share, equivalent to $0.52 annually and a 1.1% yield; meanwhile, director Kevin Clark sold 74,130 shares worth approximately $3.39 million.

Shares of Versigent (NYSE:VGNT - Get Free Report) have received a consensus rating of "Moderate Buy" from the fourteen brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $54.00.

Several research analysts have issued reports on VGNT shares. UBS Group dropped their price objective on Versigent from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Oppenheimer set a $50.00 target price on shares of Versigent in a research note on Tuesday, July 21st. Royal Bank Of Canada raised shares of Versigent from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $41.00 to $52.00 in a report on Wednesday, August 5th. Weiss Ratings began coverage on shares of Versigent in a research report on Wednesday, August 5th. They set a "hold (c)" rating for the company. Finally, Wells Fargo & Company lifted their price target on shares of Versigent from $48.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th.

Versigent Trading Down 1.7%

Shares of VGNT opened at $46.11 on Tuesday. Versigent has a 1 year low of $26.34 and a 1 year high of $50.88. The company has a debt-to-equity ratio of 7.29, a quick ratio of 1.09 and a current ratio of 1.40. The stock has a 50 day moving average of $44.49. The firm has a market cap of $3.27 billion and a PE ratio of 24.02.

Versigent (NYSE:VGNT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.58 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.29 billion. On average, sell-side analysts forecast that Versigent will post 7.23 EPS for the current fiscal year.

Versigent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%.

Insider Buying and Selling at Versigent

In other news, Director Kevin Clark sold 74,130 shares of Versigent stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $45.67, for a total value of $3,385,517.10. Following the completion of the transaction, the director owned 124,849 shares in the company, valued at approximately $5,701,853.83. The trade was a 37.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Versigent

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in Versigent in the second quarter worth $57,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Versigent in the second quarter valued at $220,000. Kintegral Advisory LLC acquired a new stake in shares of Versigent in the second quarter valued at $224,000. Engineers Gate Manager LP acquired a new stake in shares of Versigent in the second quarter valued at $418,000. Finally, Corient Private Wealth LP bought a new position in shares of Versigent in the second quarter valued at about $426,000.

About Versigent

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.

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