Versigent (NYSE:VGNT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts rate Versigent “Moderate Buy”: Of 14 covering firms, 11 recommend buying and three advise holding. The average 12-month price target is $54, above the stock’s $46.56 opening price.
• Versigent exceeded quarterly expectations, reporting $1.92 earnings per share versus the $1.58 consensus estimate and revenue of $2.44 billion against expectations of $2.29 billion.
• The company declared a quarterly dividend of $0.13 per share, equivalent to $0.52 annually and a 1.1% yield, while several institutional investors opened new positions during the second quarter.

Shares of Versigent (NYSE:VGNT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fourteen ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $54.00.

A number of analysts have recently commented on the company. TD Cowen boosted their price objective on Versigent from $49.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. UBS Group decreased their target price on Versigent from $58.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Argus lifted their price target on shares of Versigent from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Weiss Ratings assumed coverage on shares of Versigent in a report on Wednesday, August 5th. They issued a "hold (c)" rating for the company. Finally, The Goldman Sachs Group restated a "buy" rating and set a $59.00 price objective on shares of Versigent in a research report on Wednesday, August 5th.

Versigent Stock Down 1.8%

NYSE:VGNT opened at $46.56 on Friday. The company has a debt-to-equity ratio of 7.29, a current ratio of 1.40 and a quick ratio of 1.09. Versigent has a 52 week low of $26.34 and a 52 week high of $50.88. The company's 50-day simple moving average is $43.02. The firm has a market cap of $3.30 billion and a PE ratio of 24.25.

Versigent (NYSE:VGNT - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $2.29 billion. Sell-side analysts expect that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a $0.13 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VGNT. Nan Shan Life Insurance Co. Ltd. acquired a new stake in Versigent in the 2nd quarter worth about $5,400,000. Wellington Management Group LLP purchased a new stake in Versigent during the 2nd quarter worth approximately $940,000. Ancora Advisors LLC purchased a new stake in Versigent during the 2nd quarter worth approximately $4,197,000. Finally, Kintegral Advisory LLC acquired a new position in shares of Versigent during the second quarter valued at approximately $224,000.

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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