Versigent (NYSE:VGNT) Share Price Breaks Above 200-Day Moving Average - What's Next?

Key Points

• Versigent shares moved above their 200-day moving average, trading as high as $43.10 and last changing hands at $42.81, compared with the average of $42.67.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $55.08; recent recommendations were mixed, including rating downgrades and target-price changes.
• The company beat quarterly expectations, reporting adjusted earnings of $1.91 per share and revenue of $2.45 billion. Versigent also announced a quarterly dividend of $0.13 per share.

Versigent (NYSE:VGNT - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $42.67 and traded as high as $43.10. Versigent shares last traded at $42.81, with a volume of 495,445 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Fox Advisors lowered shares of Versigent from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, August 5th. BNP Paribas Exane reissued an "outperform" rating and issued a $54.00 price objective (down from $55.00) on shares of Versigent in a research note on Thursday, November 5th. Weiss Ratings cut shares of Versigent from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday. Wells Fargo & Company upped their target price on shares of Versigent from $48.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Finally, Deutsche Bank reiterated a "buy" rating and set a $54.00 target price on shares of Versigent in a report on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Versigent presently has an average rating of "Moderate Buy" and an average target price of $55.08.

Versigent Price Performance

The stock's 50 day moving average is $44.48 and its two-hundred day moving average is $42.67. The stock has a market capitalization of $3.03 billion and a PE ratio of 22.30. The company has a debt-to-equity ratio of 5.69, a current ratio of 1.43 and a quick ratio of 1.11.

Versigent (NYSE:VGNT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.79 by $0.12. Versigent had a net margin of 5.47% and a return on equity of 88.25%. The company had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.42 billion. As a group, sell-side analysts forecast that Versigent will post 7.37 earnings per share for the current fiscal year.

Versigent Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, December 4th.

Insider Buying and Selling at Versigent

In related news, Director Kevin Clark sold 47,761 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the director owned 27,571 shares in the company, valued at $1,223,049.56. The trade was a 63.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 220,000 shares of company stock worth $10,065,848.

Institutional Investors Weigh In On Versigent

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allianz Asset Management GmbH purchased a new stake in shares of Versigent in the 2nd quarter valued at about $20,602,000. Public Sector Pension Investment Board increased its holdings in shares of Versigent by 48.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 360,975 shares of the company's stock valued at $15,775,000 after acquiring an additional 117,446 shares during the period. HBK Investments L P purchased a new stake in Versigent in the 2nd quarter valued at $14,439,000. William Blair Investment Management LLC purchased a new stake in Versigent in the 3rd quarter valued at $11,751,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Versigent by 321.3% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 242,425 shares of the company's stock valued at $10,895,000 after purchasing an additional 184,888 shares during the last quarter.

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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