Versigent (NYSE:VGNT) Rating Lowered to “Strong Sell” at Zacks Research

Versigent (NYSE:VGNT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other brokerages have also weighed in on VGNT. TD Cowen upped their price objective on shares of Versigent from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Versigent from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. UBS Group reduced their target price on Versigent from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Wells Fargo & Company boosted their target price on Versigent from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Evercore reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Versigent in a research report on Monday, August 10th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Versigent has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Versigent Trading Up 1.1%

NYSE VGNT traded up $0.46 on Thursday, hitting $44.17. 794,704 shares of the company were exchanged, compared to its average volume of 772,663. The stock has a market capitalization of $3.13 billion and a P/E ratio of 23.01. Versigent has a 12 month low of $26.34 and a 12 month high of $50.88. The stock’s fifty day moving average is $46.33. 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 posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. On average, analysts expect that Versigent will post 7.23 earnings per share for the current year.

Insider Activity

In related news, Director Kevin Clark sold 74,130 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $45.67, for a total transaction of $3,385,517.10. Following the completion of the sale, the director owned 124,849 shares in the company, valued at approximately $5,701,853.83. This represents a 37.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 220,000 shares of company stock worth $10,065,848 over the last 90 days.

Institutional Investors Weigh In On Versigent

A number of institutional investors and hedge funds have recently bought and sold shares of VGNT. Fortitude Family Office LLC lifted its stake in Versigent by 497.1% during the 3rd quarter. Fortitude Family Office LLC now owns 621 shares of the company’s stock valued at $28,000 after acquiring an additional 517 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Versigent by 54.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,249 shares of the company’s stock worth $101,000 after acquiring an additional 796 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Versigent by 53.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,052 shares of the company’s stock worth $47,000 after acquiring an additional 365 shares during the last quarter. HBK Investments L P purchased a new position in Versigent during the 2nd quarter worth $14,439,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Versigent in the 2nd quarter worth $220,000.

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.