Shares of Veoneer Inc (NYSE:VNE) have been assigned a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $35.42.
Several research firms have recently commented on VNE. Robert W. Baird lifted their price target on shares of Shopify from $208.00 to $269.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Credit Suisse Group restated an “outperform” rating and set a GBX 1,206 ($15.76) price target on shares of in a research report on Thursday, June 27th. BMO Capital Markets downgraded shares of Iamgold from an “outperform” rating to a “market perform” rating in a research report on Monday, May 6th. Mizuho dropped their price target on shares of Veoneer from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, Barclays restated a “buy” rating on shares of NXP Semiconductors in a research report on Sunday, May 5th.
A number of large investors have recently modified their holdings of VNE. AMF Pensionsforsakring AB bought a new stake in Veoneer during the 2nd quarter worth about $41,544,000. DNB Asset Management AS bought a new stake in Veoneer during the 2nd quarter worth about $18,090,000. Norges Bank bought a new stake in Veoneer during the 4th quarter worth about $19,914,000. Ulysses Management LLC grew its holdings in Veoneer by 256.4% during the 4th quarter. Ulysses Management LLC now owns 335,400 shares of the company’s stock worth $7,905,000 after acquiring an additional 241,300 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Veoneer by 68.1% during the 1st quarter. JPMorgan Chase & Co. now owns 480,015 shares of the company’s stock worth $10,978,000 after acquiring an additional 194,467 shares during the last quarter. 23.40% of the stock is currently owned by hedge funds and other institutional investors.
Veoneer (NYSE:VNE) last posted its quarterly earnings results on Monday, April 29th. The company reported ($1.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.31) by ($0.26). The company had revenue of $494.00 million for the quarter, compared to analysts’ expectations of $512.35 million. Veoneer had a negative return on equity of 19.50% and a negative net margin of 17.96%. On average, analysts forecast that Veoneer will post -5.21 EPS for the current fiscal year.
Veoneer Company Profile
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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