Versigent (NYSE:VGNT) Cut to Equal Weight at Fox Advisors

Fox Advisors lowered shares of Versigent (NYSE:VGNT) from an overweight rating to an equal weight rating in a research note published on Wednesday morning, Marketbeat reports.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company lifted their price target on Versigent from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Wolfe Research assumed coverage on Versigent in a research note on Thursday, April 30th. They set an “outperform” rating and a $53.00 price objective for the company. Oppenheimer set a $50.00 target price on shares of Versigent in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft raised shares of Versigent from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, July 7th. Finally, Morgan Stanley began coverage on shares of Versigent in a report on Friday, May 8th. They set an “overweight” rating and a $51.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.25.

Versigent Trading Up 3.0%

VGNT opened at $44.12 on Wednesday. The business has a 50-day moving average of $43.36. The company has a current ratio of 1.40, a quick ratio of 1.04 and a debt-to-equity ratio of 7.29. Versigent has a 12 month low of $26.34 and a 12 month high of $50.88.

Versigent (NYSE:VGNT) last released its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.29 billion. On average, equities analysts forecast that Versigent will post 7.22 earnings per share for the current fiscal year.

Versigent Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date 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.