Versigent (NYSE:VGNT) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Versigent (NYSE:VGNT) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $55.08.

A number of equities analysts have recently weighed in on the company. Fox Advisors downgraded Versigent from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, August 5th. Oppenheimer set a $50.00 target price on Versigent in a report on Tuesday, July 21st. The Goldman Sachs Group decreased their price target on Versigent from $59.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $54.00 price target on shares of Versigent in a report on Wednesday, August 5th. Finally, 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 report on Thursday.

Insider Activity

In other news, Director Kevin Clark sold 47,761 shares of Versigent stock in a transaction 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 sale, the director directly owned 27,571 shares in the company, valued at $1,223,049.56. The trade was a 63.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 220,000 shares of company stock worth $10,065,848.

Hedge Funds Weigh In On Versigent

Institutional investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC bought a new position in Versigent during the third quarter valued at about $11,751,000. Maryland State Retirement & Pension System raised its position in Versigent by 52.4% in the third quarter. Maryland State Retirement & Pension System now owns 15,696 shares of the company’s stock worth $705,000 after acquiring an additional 5,399 shares during the period. Ritholtz Wealth Management raised its position in Versigent by 9.8% in the third quarter. Ritholtz Wealth Management now owns 6,879 shares of the company’s stock worth $309,000 after acquiring an additional 616 shares during the period. Jacobi Capital Management LLC bought a new stake in Versigent in the third quarter worth about $38,000. Finally, Illinois Municipal Retirement Fund raised its position in Versigent by 8.9% in the third quarter. Illinois Municipal Retirement Fund now owns 37,059 shares of the company’s stock worth $1,665,000 after acquiring an additional 3,043 shares during the period.

Versigent Stock Down 0.2%

Versigent stock opened at $40.87 on Wednesday. Versigent has a fifty-two week low of $26.34 and a fifty-two week high of $50.88. The stock has a market cap of $2.90 billion and a PE ratio of 21.29. The firm’s 50-day simple moving average is $44.78 and its 200 day simple moving average is $42.68. The company has a debt-to-equity ratio of 5.69, a quick ratio of 1.11 and a current ratio of 1.43.

Versigent (NYSE:VGNT) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.12. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.42 billion. Versigent had a net margin of 5.47% and a return on equity of 88.25%. Research analysts predict that Versigent will post 7.37 EPS for the current fiscal year.

Versigent Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.3%.

Key Stories Impacting Versigent

Here are the key news stories impacting Versigent this week:

• Positive Sentiment: Versigent reported third-quarter EPS of $1.91, above the $1.79 consensus, and revenue of $2.45 billion, topping expectations of $2.42 billion. The results provide a positive earnings catalyst. Versigent Q3 results
• Positive Sentiment: TD Cowen raised its price target to $59 from $58 and maintained a Buy rating, signaling continued confidence in the shares. TD Cowen rating
• Neutral Sentiment: Versigent’s CFO is scheduled to participate in an RBC Capital Markets industrials conference on November 17. The event may provide investor updates but is not itself a business announcement. Conference announcement
• Negative Sentiment: Royal Bank of Canada lowered its target to $52 from $53, while retaining an Outperform rating. BNP Paribas Exane also cut its target, to $54 from $55, but reaffirmed Outperform. The modest reductions temper the otherwise positive analyst outlook. RBC target update BNP Paribas Exane rating update

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.