Zacks Investment Research Lowers Voxx International Corp. (VOXX) to Sell
Voxx International Corp. (NASDAQ:VOXX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
Shares of Voxx International Corp. (NASDAQ:VOXX) opened at 3.85 on Wednesday. Voxx International Corp. has a 12-month low of $2.47 and a 12-month high of $6.25. The company’s market cap is $93.02 million. The firm has a 50-day moving average of $3.09 and a 200-day moving average of $3.29.
Voxx International Corp. (NASDAQ:VOXX) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.13. Voxx International Corp. had a net margin of 0.17% and a return on equity of 1.08%. The firm had revenue of $159.30 million for the quarter. During the same period last year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts predict that Voxx International Corp. will post $0.26 EPS for the current year.
In other news, Director Ari Shalam purchased 13,333 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were bought at an average cost of $2.99 per share, with a total value of $39,865.67. Following the completion of the transaction, the director now directly owns 7,734 shares of the company’s stock, valued at $23,124.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denise W. Gibson purchased 32,100 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were purchased at an average cost of $3.13 per share, for a total transaction of $100,473.00. Following the completion of the transaction, the director now directly owns 20,400 shares of the company’s stock, valued at $63,852. The disclosure for this purchase can be found here. Corporate insiders own 17.51% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its position in Voxx International Corp. by 4.7% in the first quarter. Royce & Associates LP now owns 1,166,991 shares of the company’s stock worth $5,216,000 after buying an additional 52,500 shares during the last quarter. Spark Investment Management LLC raised its position in Voxx International Corp. by 134.4% in the first quarter. Spark Investment Management LLC now owns 134,800 shares of the company’s stock worth $602,000 after buying an additional 77,300 shares during the last quarter. Geode Capital Management LLC raised its position in Voxx International Corp. by 5.7% in the first quarter. Geode Capital Management LLC now owns 118,598 shares of the company’s stock worth $530,000 after buying an additional 6,434 shares during the last quarter. Renaissance Technologies LLC raised its position in Voxx International Corp. by 307.5% in the first quarter. Renaissance Technologies LLC now owns 59,900 shares of the company’s stock worth $268,000 after buying an additional 45,200 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Voxx International Corp. by 1.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 116,699 shares of the company’s stock worth $522,000 after buying an additional 1,497 shares during the last quarter. 60.48% of the stock is currently owned by institutional investors.
About Voxx International Corp.
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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