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

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

VGNT has been the topic of several other research reports. The Goldman Sachs Group reduced their target price on shares of Versigent from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Oppenheimer set a $50.00 price target on shares of Versigent in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their price target on shares of Versigent from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Argus increased their price objective on shares of Versigent from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Versigent in a research note on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Versigent presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Versigent Stock Up 1.1%

VGNT stock traded up $0.46 during midday trading on Thursday, reaching $44.17. The stock had a trading volume of 794,704 shares, compared to its average volume of 772,663. The business’s fifty day moving average price is $46.33. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29. The company has a market capitalization of $3.13 billion and a price-to-earnings ratio of 23.01. Versigent has a twelve month low of $26.34 and a twelve month high of $50.88.

Versigent (NYSE:VGNT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.29 billion. On average, equities analysts predict that Versigent will post 7.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Versigent news, Director Kevin Clark sold 74,130 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $45.67, for a total value of $3,385,517.10. Following the completion of the transaction, the director directly owned 124,849 shares of the company’s stock, valued at approximately $5,701,853.83. The trade was a 37.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 220,000 shares of company stock worth $10,065,848 in the last 90 days.

Institutional Investors Weigh In On Versigent

A number of hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH bought a new position in shares of Versigent during the 2nd quarter valued at about $20,602,000. HBK Investments L P bought a new stake in Versigent during the 2nd quarter worth approximately $14,439,000. Steamboat Capital Partners LLC bought a new stake in Versigent during the 2nd quarter worth approximately $10,385,000. WINTON GROUP Ltd bought a new stake in Versigent during the 2nd quarter worth approximately $8,397,000. Finally, Nan Shan Life Insurance Co. Ltd. acquired a new stake in Versigent during the 2nd quarter worth approximately $5,400,000.

About Versigent

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.