Evercore ISI lowered shares of Veoneer (NYSE:VNE) from an in-line rating to an underperform rating in a research note published on Friday, MarketBeat Ratings reports. Evercore ISI currently has $35.00 target price on the stock.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Veoneer from a hold rating to a sell rating in a research note on Thursday, September 6th. Buckingham Research initiated coverage on Veoneer in a research note on Wednesday, September 19th. They set a neutral rating and a $48.00 price objective on the stock. Longbow Research cut Veoneer from a buy rating to a neutral rating in a research note on Friday, August 3rd. UBS Group cut Veoneer from a neutral rating to a sell rating and set a $44.00 price objective on the stock. in a research note on Tuesday, October 2nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada restated a hold rating and set a $42.00 price objective on shares of Veoneer in a research note on Sunday, July 29th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Veoneer presently has an average rating of Hold and a consensus price target of $47.67.
VNE traded down $2.66 during trading hours on Friday, hitting $42.91. 1,194,878 shares of the stock were exchanged, compared to its average volume of 570,982. Veoneer has a 12 month low of $39.50 and a 12 month high of $57.93.
Veoneer (NYSE:VNE) last announced its quarterly earnings data on Friday, July 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by ($0.08). The company had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $592.80 million. As a group, analysts predict that Veoneer will post -2.54 EPS for the current fiscal year.
In related news, CEO Jan Carlson bought 50,000 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were bought at an average cost of $50.65 per share, for a total transaction of $2,532,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mathias Hermansson bought 2,500 shares of the business’s stock in a transaction on Friday, August 10th. The stock was bought at an average price of $55.43 per share, for a total transaction of $138,575.00. The disclosure for this purchase can be found here. Insiders acquired 53,100 shares of company stock worth $2,701,501 over the last quarter.
A number of hedge funds have recently bought and sold shares of VNE. Phoenix Investment Adviser LLC bought a new stake in Veoneer in the second quarter valued at $144,000. Bank of Montreal Can bought a new stake in Veoneer in the third quarter valued at $300,000. Northern Trust Corp bought a new stake in Veoneer in the second quarter valued at $1,053,000. Finally, Folketrygdfondet bought a new stake in shares of Veoneer during the second quarter valued at about $11,897,000. Institutional investors own 7.93% of the company’s stock.
Veoneer Company Profile
Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronics products. The company offers automotive radars, cameras with driver assist systems, night vision systems, positioning systems, restraint control, sensing, and brake systems. The company is based in Stockholm, Sweden.
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