Versigent (NYSE:VGNT) Stock Gets Price Target Boost from TD Cowen

Versigent (NYSE:VGNT) had its price objective raised by analysts at TD Cowen from $58.00 to $59.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen‘s target price would indicate a potential upside of 44.36% from the company’s current price.

Several other research analysts have also issued reports on VGNT. The Goldman Sachs Group dropped their price target on shares of Versigent from $59.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. Royal Bank Of Canada decreased their price objective on Versigent from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday. Oppenheimer set a $50.00 price objective on Versigent in a research note on Tuesday, July 21st. BNP Paribas Exane reissued an “outperform” rating and issued a $54.00 target price (down from $55.00) on shares of Versigent in a report on Thursday. Finally, Argus raised their target price on Versigent from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Versigent currently has an average rating of “Moderate Buy” and a consensus price target of $55.08.

Versigent Price Performance

Shares of VGNT stock traded up $0.59 during mid-day trading on Thursday, reaching $40.87. The company’s stock had a trading volume of 1,027,841 shares, compared to its average volume of 691,066. The firm’s 50-day moving average is $44.78 and its two-hundred day moving average is $42.68. The company has a market cap of $2.89 billion and a P/E ratio of 21.29. Versigent has a 1-year low of $26.34 and a 1-year high of $50.88. The company has a debt-to-equity ratio of 7.29, a quick ratio of 1.09 and a current ratio of 1.40.

Versigent (NYSE:VGNT) last issued its earnings results on Wednesday, November 4th. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.12. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.42 billion. On average, research analysts predict that Versigent will post 7.37 earnings per share for the current year.

Insider Buying and Selling at Versigent

In related news, Director Kevin Clark sold 47,761 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $44.36, for a total transaction of $2,118,677.96. Following the completion of the sale, the director owned 27,571 shares in the company, valued at $1,223,049.56. This trade represents a 63.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 220,000 shares of company stock valued at $10,065,848.

Hedge Funds Weigh In On Versigent

Institutional investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its position in Versigent by 497.1% in the third quarter. Fortitude Family Office LLC now owns 621 shares of the company’s stock valued at $28,000 after buying an additional 517 shares in the last quarter. Salomon & Ludwin LLC grew its stake in Versigent by 78.3% during the third quarter. Salomon & Ludwin LLC now owns 708 shares of the company’s stock worth $32,000 after buying an additional 311 shares during the last quarter. Jacobi Capital Management LLC acquired a new stake in shares of Versigent during the third quarter worth approximately $38,000. Farther Finance Advisors LLC increased its holdings in shares of Versigent by 53.1% during the third quarter. Farther Finance Advisors LLC now owns 1,052 shares of the company’s stock worth $47,000 after buying an additional 365 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Versigent by 40.0% during the third quarter. Signaturefd LLC now owns 1,121 shares of the company’s stock worth $50,000 after buying an additional 320 shares in the last quarter.

Versigent News Summary

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

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.