Zacks Investment Research Lowers VOXX International Corporation (NASDAQ:VOXX) to Strong Sell

Zacks Investment Research downgraded shares of VOXX International Corporation (NASDAQ:VOXX) from a hold rating to a strong sell rating in a research note released on Tuesday, October 17th.

According to Zacks, “VOXX International Corporation is engaged in marketing automobile sound, vehicle security, mobile video systems, and consumer electronics products. The Company markets its products under the RCA, Acoustic Research and TERK brands. VOXX International Corporation, formerly known as Audiovox Corporation, is headquartered in Hauppauge, New York. “

Separately, Cowen and Company restated a hold rating and set a $7.00 price target on shares of VOXX International Corporation in a report on Friday, July 14th.

Shares of VOXX International Corporation (VOXX) remained flat at $$6.55 during trading on Tuesday. The stock had a trading volume of 62,988 shares, compared to its average volume of 217,819. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 2.46.

VOXX International Corporation (NASDAQ:VOXX) last posted its quarterly earnings results on Tuesday, October 10th. The auto parts company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.73). VOXX International Corporation had a net margin of 3.10% and a negative return on equity of 3.77%. The company had revenue of $113.50 million for the quarter, compared to analysts’ expectations of $163.00 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. equities analysts expect that VOXX International Corporation will post -0.58 earnings per share for the current year.

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Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in VOXX International Corporation by 167.1% in the second quarter. Wells Fargo & Company MN now owns 173,800 shares of the auto parts company’s stock worth $1,426,000 after purchasing an additional 108,725 shares in the last quarter. Citigroup Inc. boosted its holdings in VOXX International Corporation by 664.2% in the second quarter. Citigroup Inc. now owns 90,821 shares of the auto parts company’s stock worth $745,000 after purchasing an additional 78,936 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in VOXX International Corporation by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 27,847 shares of the auto parts company’s stock worth $144,000 after purchasing an additional 640 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its holdings in VOXX International Corporation by 2.0% in the second quarter. Prescott Group Capital Management L.L.C. now owns 973,515 shares of the auto parts company’s stock worth $7,983,000 after purchasing an additional 18,719 shares in the last quarter. Finally, UBS Group AG boosted its holdings in VOXX International Corporation by 45.9% during the first quarter. UBS Group AG now owns 24,853 shares of the auto parts company’s stock valued at $129,000 after acquiring an additional 7,814 shares during the period. Hedge funds and other institutional investors own 59.29% of the company’s stock.

VOXX International Corporation Company Profile

VOXX International Corporation is an international manufacturer and distributor in the automotive, audio and consumer accessories industries. The Company’s segments include Automotive, Premium Audio and Consumer Accessories. The Automotive segment designs, manufactures, distributes and markets rear-seat entertainment devices, satellite radio products, remote start systems, digital television tuners, mobile antennas, mobile multimedia devices, car link-smartphone telematics application, collision avoidance systems and others.

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