Versigent (NYSE:VGNT) Stock Has Average Target Price of $54.00 According to Brokerages

Key Points

• Analyst sentiment is broadly positive: Fourteen firms give Versigent a consensus “Moderate Buy” rating, with an average 12-month price target of $54.00. Eleven rate it a buy, two a hold, and one a sell.
• Quarterly results beat expectations: Versigent reported earnings of $1.92 per share versus the $1.58 consensus and revenue of $2.44 billion versus the $2.29 billion estimate.
• Insiders have been selling shares: Company insiders sold 220,000 shares worth about $10.1 million over the past three months; director Kevin Clark accounted for 74,130 shares in one transaction.

Shares of Versigent (NYSE:VGNT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fourteen research firms that are covering the stock, Marketbeat reports. One investment 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 1-year target price among analysts that have covered the stock in the last year is $54.00.

Several analysts have recently issued reports on VGNT shares. Royal Bank Of Canada upped their price target on shares of Versigent from $52.00 to $53.00 and gave the company an "outperform" rating in a research note on Monday, October 12th. Fox Advisors downgraded shares of Versigent from an "overweight" rating to an "equal weight" rating in a report on Wednesday, August 5th. TD Cowen lifted their price objective on shares of Versigent from $49.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $54.00 target price on shares of Versigent in a report on Wednesday, August 5th. Finally, Evercore reissued an "outperform" rating and set a $65.00 target price on shares of Versigent in a report on Monday, August 10th.

Versigent Price Performance

NYSE VGNT opened at $40.57 on Wednesday. The company has a market cap of $2.87 billion and a PE ratio of 21.13. Versigent has a 52 week low of $26.34 and a 52 week high of $50.88. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 7.29. The firm's 50-day simple moving average is $45.18 and its two-hundred day simple moving average is $42.71.

Versigent (NYSE:VGNT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.29 billion. Research analysts predict that Versigent will post 7.23 earnings per share for the current year.

Insider Activity at Versigent

In other news, Director Kevin Clark sold 74,130 shares of Versigent stock in a transaction on Wednesday, September 9th. The stock was 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 220,000 shares of company stock valued at $10,065,848 over the last three months.

Institutional Trading of Versigent

A number of institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC increased its position in shares of Versigent by 497.1% during the third quarter. Fortitude Family Office LLC now owns 621 shares of the company's stock valued at $28,000 after buying an additional 517 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of Versigent by 78.3% in the third quarter. Salomon & Ludwin LLC now owns 708 shares of the company's stock worth $32,000 after buying an additional 311 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Versigent by 53.1% in the third quarter. Farther Finance Advisors LLC now owns 1,052 shares of the company's stock worth $47,000 after buying an additional 365 shares in the last quarter. Signaturefd LLC boosted its position in shares of Versigent by 40.0% in the third quarter. Signaturefd LLC now owns 1,121 shares of the company's stock valued at $50,000 after acquiring an additional 320 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Versigent in the second quarter valued at approximately $57,000.

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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