Veoneer (VNE) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Veoneer (NYSE:VNE) from a hold rating to a sell rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Veoneer, Inc. manufactures automotive safety products. The Company offers radar systems, brakes, driver monitoring equipment, restraint controls and driver assist software. Veoneer, Inc. is based in Stockholm, Sweden. “

A number of other brokerages have also recently weighed in on VNE. Deutsche Bank initiated coverage on shares of Veoneer in a research note on Thursday, December 13th. They issued a sell rating for the company. Barclays set a $35.00 price objective on shares of Veoneer and gave the stock a buy rating in a research note on Friday, January 4th. Longbow Research upgraded shares of Veoneer from a neutral rating to a buy rating and set a $40.00 price objective for the company in a research note on Monday, January 14th. Nordea Equity Research cut shares of Veoneer from a buy rating to a hold rating in a research note on Thursday, February 14th. Finally, Robert W. Baird cut shares of Veoneer from a neutral rating to an underperform rating in a research note on Friday, January 4th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $42.53.

Shares of Veoneer stock opened at $27.96 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. Veoneer has a 1-year low of $22.63 and a 1-year high of $57.93.

A number of large investors have recently added to or reduced their stakes in the stock. Murphy Pohlad Asset Management LLC raised its stake in Veoneer by 3.3% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 23,525 shares of the company’s stock valued at $554,000 after purchasing an additional 760 shares during the last quarter. Legacy Advisors LLC acquired a new position in shares of Veoneer in the 1st quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Veoneer in the 4th quarter valued at $37,000. Citigroup Inc. raised its stake in shares of Veoneer by 113.7% in the 4th quarter. Citigroup Inc. now owns 4,011 shares of the company’s stock valued at $94,000 after buying an additional 2,134 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in shares of Veoneer in the 3rd quarter valued at $138,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

About Veoneer

Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronic products in Asia, the Americas, and Europe. It operates in two segments, Electronics and Brake Systems. The company provides automotive radars, night driving assist systems, positioning systems, advanced driver assistance systems (ADAS), night vision systems, brake control systems, electronic control units, active safety sensors, and controllers; mono-and stereo-vision cameras; and passive safety electronics, such as airbag control units and crash sensors.

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