Vishay Precision Group (NYSE:VPG) Shares Gap Down Following Weak Earnings

Key Points

• Vishay Precision Group shares plunged after opening at $68.22 versus the prior close of $101.00, later trading around $74.80 on heavy volume.
• The company reported quarterly EPS of $0.04, missing the $0.19 consensus estimate, while revenue of $83.94 million came in below forecasts of $87.44 million.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $83.67, while institutional investors own 87.61% of the stock.

Vishay Precision Group, Inc. (NYSE:VPG - Get Free Report) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $101.00, but opened at $68.22. Vishay Precision Group shares last traded at $74.80, with a volume of 814,201 shares changing hands.

The scientific and technical instruments company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.15). Vishay Precision Group had a net margin of 1.85% and a return on equity of 2.28%. The business had revenue of $83.94 million during the quarter, compared to analyst estimates of $87.44 million.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VPG. B. Riley Financial raised their price target on Vishay Precision Group from $63.00 to $109.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Weiss Ratings raised Vishay Precision Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 23rd. Zacks Research cut Vishay Precision Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Lake Street Capital boosted their target price on Vishay Precision Group from $54.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised Vishay Precision Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.67.

Hedge Funds Weigh In On Vishay Precision Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VPG. Regent Peak Wealth Advisors LLC bought a new position in Vishay Precision Group during the 2nd quarter worth about $307,000. Tema ETFs LLC lifted its holdings in shares of Vishay Precision Group by 108,291.4% in the second quarter. Tema ETFs LLC now owns 264,475 shares of the scientific and technical instruments company's stock valued at $39,647,000 after purchasing an additional 264,231 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Vishay Precision Group in the second quarter valued at about $2,720,000. Optiver Holding B.V. boosted its position in shares of Vishay Precision Group by 1,195.3% during the first quarter. Optiver Holding B.V. now owns 1,373 shares of the scientific and technical instruments company's stock worth $60,000 after buying an additional 1,267 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Vishay Precision Group by 50.6% during the first quarter. Segall Bryant & Hamill LLC now owns 226,625 shares of the scientific and technical instruments company's stock worth $9,840,000 after buying an additional 76,119 shares during the period. 87.61% of the stock is owned by institutional investors and hedge funds.

Vishay Precision Group Stock Performance

The stock has a fifty day moving average of $119.80 and a 200-day moving average of $78.03. The firm has a market capitalization of $1.01 billion, a P/E ratio of 169.23, a P/E/G ratio of 4.70 and a beta of 1.46. The company has a quick ratio of 2.97, a current ratio of 4.47 and a debt-to-equity ratio of 0.06.

About Vishay Precision Group

Vishay Precision Group NYSE: VPG specializes in the design, manufacture and calibration of precision sensors, instrumentation and measurement systems used in a broad range of applications. Its product portfolio includes load cells, tension links, weighing modules, torque transducers, digital indicators and data acquisition systems. These solutions serve critical requirements for accuracy, reliability and repeatability in sectors such as industrial automation, test and measurement, medical devices, food and beverage processing, aerospace and defense.

The company traces its roots to the sensor and measurement division of Vishay Intertechnology, Inc, from which it was spun off as an independent public company in March 2016.

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