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

Versigent (NYSE:VGNT) 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) 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.