Analysts Set Versigent (NYSE:VGNT) Target Price at $54.00

Shares of Versigent (NYSE:VGNT) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $54.00.

Several analysts have issued reports on VGNT shares. Zacks Research downgraded Versigent from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Oppenheimer set a $50.00 price target on Versigent in a research report on Tuesday, July 21st. Fox Advisors downgraded Versigent from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada upgraded shares of Versigent from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $41.00 to $52.00 in a research report on Wednesday, August 5th. Finally, UBS Group decreased their target price on shares of Versigent from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, July 9th.

Insider Buying and Selling at Versigent

In other news, Director Kevin Clark sold 74,130 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $45.67, for a total transaction of $3,385,517.10. Following the transaction, the director owned 124,849 shares in the company, valued at $5,701,853.83. This represents a 37.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Versigent

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH bought a new stake in shares of Versigent during the 2nd quarter worth $20,602,000. HBK Investments L P acquired a new stake in Versigent in the 2nd quarter valued at approximately $14,439,000. Steamboat Capital Partners LLC acquired a new stake in Versigent in the 2nd quarter valued at approximately $10,385,000. WINTON GROUP Ltd bought a new position in Versigent in the 2nd quarter worth approximately $8,397,000. Finally, Nan Shan Life Insurance Co. Ltd. bought a new position in Versigent in the 2nd quarter worth approximately $5,400,000.

Versigent Stock Up 4.5%

Shares of Versigent stock opened at $47.45 on Tuesday. The company has a fifty day moving average price of $44.84. Versigent has a fifty-two week low of $26.34 and a fifty-two week high of $50.88. The firm has a market capitalization of $3.36 billion and a price-to-earnings ratio of 24.72. 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 released its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.29 billion. Analysts anticipate that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 4th.

About Versigent

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.