The Vitec Group (LON:VTC) Stock Price Crosses Above Two Hundred Day Moving Average of $1,364.37

Shares of The Vitec Group plc (LON:VTC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,364.37 ($17.83) and traded as high as GBX 1,562.35 ($20.41). The Vitec Group shares last traded at GBX 1,560 ($20.38), with a volume of 22,434 shares trading hands.

Several brokerages have recently weighed in on VTC. Peel Hunt increased their price objective on shares of The Vitec Group from GBX 1,650 ($21.56) to GBX 1,700 ($22.21) and gave the company a “buy” rating in a research note on Thursday, June 24th. Peel Hunt increased their price objective on shares of The Vitec Group from GBX 1,650 ($21.56) to GBX 1,700 ($22.21) and gave the company a “buy” rating in a research note on Thursday, June 24th. Berenberg Bank upgraded shares of The Vitec Group to a “buy” rating and increased their price objective for the company from GBX 1,180 ($15.42) to GBX 1,810 ($23.65) in a research note on Wednesday, August 18th. Finally, Shore Capital reissued a “buy” rating on shares of The Vitec Group in a report on Wednesday, August 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, The Vitec Group has an average rating of “Buy” and an average price target of GBX 1,736.67 ($22.69).

The company has a market capitalization of £720.47 million and a price-to-earnings ratio of 46.85. The stock’s fifty day simple moving average is GBX 1,491.94 and its two-hundred day simple moving average is GBX 1,364.37. The company has a debt-to-equity ratio of 73.88, a current ratio of 1.77 and a quick ratio of 0.95.

The company also recently disclosed a dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 23rd will be issued a GBX 11 ($0.14) dividend. This represents a dividend yield of 0.71%. The ex-dividend date is Thursday, September 23rd. This is a boost from The Vitec Group’s previous dividend of $4.50. The Vitec Group’s dividend payout ratio (DPR) is 0.14%.

In related news, insider Jon Bolton sold 12,050 shares of the stock in a transaction dated Friday, August 13th. The shares were sold at an average price of GBX 1,550 ($20.25), for a total value of £186,775 ($244,022.73).

About The Vitec Group (LON:VTC)

The Vitec Group plc designs, manufactures, and distributes products and services that enable end users to capture and share exceptional content for the broadcast, cinematic, video, photographic, and smartphone applications worldwide. It operates through three divisions: Imaging Solutions, Production Solutions, and Creative Solutions.

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