VIZIO’s (VZIO) “Hold” Rating Reaffirmed at Needham & Company LLC

VIZIO (NYSE:VZIO)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports.

A number of other equities analysts also recently weighed in on the company. Barrington Research downgraded VIZIO from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 20th. B. Riley downgraded VIZIO from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a report on Tuesday, February 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $11.50 price objective (up previously from $10.00) on shares of VIZIO in a report on Tuesday, February 27th. Craig Hallum reissued a “hold” rating on shares of VIZIO in a report on Wednesday, February 21st. Finally, Piper Sandler reissued a “neutral” rating and issued a $11.50 price objective (down previously from $12.00) on shares of VIZIO in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.77.

VIZIO Trading Down 0.5 %

Shares of NYSE:VZIO opened at $10.64 on Tuesday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 70.93, a P/E/G ratio of 2.10 and a beta of 2.13. The business has a 50-day moving average price of $10.48 and a two-hundred day moving average price of $7.95. VIZIO has a 1-year low of $4.82 and a 1-year high of $11.28.

VIZIO (NYSE:VZIO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. VIZIO had a return on equity of 6.84% and a net margin of 1.68%. The company had revenue of $502.60 million during the quarter, compared to analysts’ expectations of $498.83 million. During the same period in the prior year, the business posted $0.03 EPS. VIZIO’s revenue was down 5.8% on a year-over-year basis. As a group, equities analysts predict that VIZIO will post 0.2 EPS for the current year.

Insider Activity

In other news, Director David Eugene Russell sold 300,000 shares of VIZIO stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $9.91, for a total transaction of $2,973,000.00. Following the sale, the director now directly owns 2,536,542 shares of the company’s stock, valued at $25,137,131.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 45.06% of the company’s stock.

Hedge Funds Weigh In On VIZIO

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new position in shares of VIZIO in the first quarter worth approximately $44,000. Point72 Middle East FZE bought a new stake in VIZIO in the fourth quarter worth approximately $46,000. Tower Research Capital LLC TRC lifted its stake in VIZIO by 381.2% in the second quarter. Tower Research Capital LLC TRC now owns 7,877 shares of the company’s stock valued at $53,000 after buying an additional 6,240 shares during the period. UBS Group AG boosted its holdings in shares of VIZIO by 88.9% during the 3rd quarter. UBS Group AG now owns 6,378 shares of the company’s stock worth $56,000 after buying an additional 3,002 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of VIZIO during the 3rd quarter worth approximately $63,000. 66.24% of the stock is owned by institutional investors and hedge funds.

About VIZIO

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.