Versigent (NYSE:VGNT) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst sentiment is positive: Fourteen brokerages give Versigent a consensus “Moderate Buy” rating, with 11 buys and 3 holds. The average 12-month price target is $53.92 versus the stock’s opening price of $44.31.
• Quarterly results exceeded expectations: Versigent reported earnings of $1.92 per share, beating the $1.58 consensus estimate, while revenue of $2.44 billion surpassed expectations of $2.29 billion.
• Insider selling contrasts with institutional buying: A director sold 47,761 shares, and insiders have sold 220,000 shares worth about $10.1 million over the past quarter. Meanwhile, several institutions increased or initiated positions in the company.

Versigent (NYSE:VGNT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $53.92.

VGNT has been the topic of a number of recent analyst reports. TD Cowen upped their price target on Versigent from $49.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Oppenheimer set a $50.00 target price on Versigent in a research note on Tuesday, July 21st. The Goldman Sachs Group reduced their target price on Versigent from $59.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $54.00 price target on shares of Versigent in a research note on Wednesday, August 5th. Finally, UBS Group lowered their price target on Versigent from $58.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, July 9th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Versigent

Several institutional investors and hedge funds have recently made changes to their positions in VGNT. GAMMA Investing LLC grew its stake in Versigent by 54.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,249 shares of the company's stock valued at $101,000 after purchasing an additional 796 shares during the last quarter. Farther Finance Advisors LLC raised its stake 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 purchasing an additional 365 shares during the last quarter. HBK Investments L P purchased a new position in shares of Versigent in the second quarter worth about $14,439,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Versigent during the second quarter worth about $220,000. Finally, IPG Investment Advisors LLC acquired a new stake in shares of Versigent during the second quarter worth about $871,000.

Versigent Stock Performance

VGNT stock opened at $44.31 on Friday. Versigent has a one year low of $26.34 and a one year high of $50.88. The stock has a market capitalization of $3.14 billion and a price-to-earnings ratio of 23.08. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29. The firm's 50-day moving average price is $46.37.

Versigent (NYSE:VGNT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.58 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.29 billion. As a group, equities analysts predict that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.13 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.2%.

Versigent Company Profile

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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