Versigent (NYSE:VGNT) Shares Down 4.9% - Should You Sell?

Key Points

• Versigent shares fell 4.9% to about $45.22 in midday trading, on volume 84% below the average session level.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $54.00. The company also exceeded quarterly expectations, reporting EPS of $1.92 versus the $1.58 estimate and revenue of $2.44 billion.
• Versigent declared a quarterly dividend of $0.13 per share, equal to a 1.1% annualized yield, while a company director sold 74,130 shares worth approximately $3.39 million.

Versigent (NYSE:VGNT - Get Free Report) was down 4.9% during mid-day trading on Friday . The stock traded as low as $45.17 and last traded at $45.2150. 270,343 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,719,434 shares. The stock had previously closed at $47.52.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VGNT. Fox Advisors lowered shares of Versigent from an "overweight" rating to an "equal weight" rating in a report on Wednesday, August 5th. Zacks Research downgraded Versigent from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised Versigent from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $41.00 to $52.00 in a research report on Wednesday, August 5th. Weiss Ratings began coverage on Versigent in a report on Wednesday, August 5th. They set a "hold (c)" rating on the stock. Finally, Wells Fargo & Company upped their price target on Versigent from $48.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Versigent currently has a consensus rating of "Moderate Buy" and an average target price of $54.00.

Versigent Price Performance

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 stock has a market cap of $3.23 billion and a price-to-earnings ratio of 23.77. The stock's fifty day simple moving average is $44.84.

Versigent (NYSE:VGNT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. As a group, equities research analysts anticipate that Versigent will post 7.23 EPS for the current year.

Versigent Announces Dividend

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

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 shares were sold at an average price of $45.67, for a total value of $3,385,517.10. Following the completion of the sale, the director owned 124,849 shares in the company, valued at $5,701,853.83. The trade was a 37.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Versigent

A number of large investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH acquired a new position in Versigent during the 2nd quarter valued at about $20,602,000. HBK Investments L P purchased a new stake in shares of Versigent in the second quarter worth approximately $14,439,000. Steamboat Capital Partners LLC bought a new position in shares of Versigent in the second quarter valued at approximately $10,385,000. WINTON GROUP Ltd purchased a new position in shares of Versigent during the second quarter valued at approximately $8,397,000. Finally, Nan Shan Life Insurance Co. Ltd. bought a new stake in Versigent during the second quarter worth $5,400,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.