Versigent (NYSE:VGNT) Stock Rating Reaffirmed as Outperform by BNP Paribas Exane

Versigent (NYSE:VGNT)‘s stock had its “outperform” rating restated by equities research analysts at BNP Paribas Exane in a note issued to investors on Thursday, Benzinga reports. They presently have a $54.00 price target on the stock, down from their previous price target of $55.00. BNP Paribas Exane‘s price objective would indicate a potential upside of 32.13% from the stock’s previous close.

A number of other equities research analysts have also issued reports on VGNT. Fox Advisors lowered shares of Versigent from an “overweight” rating to an “equal weight” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Versigent from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research cut Versigent from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $54.00 price target on shares of Versigent in a report on Wednesday, August 5th. Finally, UBS Group dropped their price target on Versigent from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.08.

Versigent Trading Up 1.5%

VGNT traded up $0.59 during trading on Thursday, reaching $40.87. The company had a trading volume of 1,027,841 shares, compared to its average volume of 691,066. The firm’s 50-day simple moving average is $44.78 and its 200 day simple moving average is $42.68. The company has a debt-to-equity ratio of 7.29, a quick ratio of 1.09 and a current ratio of 1.40. The company has a market cap of $2.89 billion and a price-to-earnings ratio of 21.29. Versigent has a 12-month low of $26.34 and a 12-month high of $50.88.

Versigent (NYSE:VGNT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.12. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Equities research analysts anticipate that Versigent will post 7.37 earnings per share for the current year.

Insider Activity

In other news, Director Kevin Clark sold 47,761 shares of the business’s stock in a transaction on 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 transaction, the director directly owned 27,571 shares in the company, valued at $1,223,049.56. The trade was a 63.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 220,000 shares of company stock worth $10,065,848.

Institutional Trading of Versigent

Hedge funds and other institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH acquired a new stake in Versigent during the second quarter valued at $20,602,000. HBK Investments L P acquired a new position in Versigent in the 2nd quarter worth about $14,439,000. William Blair Investment Management LLC acquired a new position in Versigent in the 3rd quarter worth about $11,751,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Versigent by 321.3% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 242,425 shares of the company’s stock worth $10,895,000 after purchasing an additional 184,888 shares in the last quarter. Finally, Steamboat Capital Partners LLC purchased a new stake in shares of Versigent during the 2nd quarter worth about $10,385,000.

Versigent News Roundup

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.