Zacks Investment Research upgraded shares of Versum Materials Inc. (NYSE:VSM) from a hold rating to a buy rating in a report issued on Saturday morning. Zacks Investment Research currently has $44.00 target price on the basic materials company’s stock.
According to Zacks, “Versum Materials, Inc. is an electronic materials supplier to the semiconductor industry. The company’s primary business segment consists of Materials and Delivery Systems and Services. It provides specialty process gas, cleaners and etchants, slurries, organosilanes and organometallics deposition films and equipment. Versum Materials, Inc. is headquartered in Tempe, Arizona. “
A number of other brokerages have also recently commented on VSM. Needham & Company LLC reiterated a buy rating and issued a $45.00 price target (up previously from $41.00) on shares of Versum Materials in a research note on Friday. KeyCorp reiterated an overweight rating and issued a $4.00 price target (down previously from $41.00) on shares of Versum Materials in a research note on Friday. Jefferies Group LLC reiterated a hold rating and issued a $38.00 price target on shares of Versum Materials in a research note on Thursday, October 19th. ValuEngine lowered shares of Versum Materials from a buy rating to a hold rating in a research report on Monday, October 2nd. Finally, Credit Suisse Group increased their price objective on shares of Versum Materials from $40.00 to $46.00 and gave the company an outperform rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $36.90.
Shares of Versum Materials (VSM) opened at $39.18 on Friday. The company has a market cap of $4,250.65, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.62. The company has a debt-to-equity ratio of 39.72, a current ratio of 3.84 and a quick ratio of 2.88. Versum Materials has a 12 month low of $23.38 and a 12 month high of $42.74.
Versum Materials (NYSE:VSM) last announced its quarterly earnings results on Thursday, November 9th. The basic materials company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $294.50 million during the quarter, compared to analysts’ expectations of $281.39 million. Versum Materials had a net margin of 17.13% and a negative return on equity of 457.02%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. equities research analysts expect that Versum Materials will post 2.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, November 10th. Versum Materials’s dividend payout ratio is 11.30%.
Large investors have recently added to or reduced their stakes in the stock. Pinnacle Financial Partners Inc. bought a new position in Versum Materials during the second quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Versum Materials by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the basic materials company’s stock worth $129,000 after acquiring an additional 428 shares during the period. MV Capital Management Inc. increased its position in Versum Materials by 20.5% during the second quarter. MV Capital Management Inc. now owns 4,379 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 746 shares during the period. Creative Planning increased its position in Versum Materials by 17.0% during the second quarter. Creative Planning now owns 4,587 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 666 shares during the period. Finally, Riverhead Capital Management LLC increased its position in Versum Materials by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 5,826 shares of the basic materials company’s stock worth $189,000 after acquiring an additional 2,326 shares during the period. 90.04% of the stock is currently owned by institutional investors and hedge funds.
About Versum Materials
Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.
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