Versum Materials Inc. (NYSE:VSM) Receives Average Rating of “Buy” from Analysts
Versum Materials Inc. (NYSE:VSM) has been assigned an average recommendation of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $34.30.
VSM has been the subject of several research reports. Zacks Investment Research cut shares of Versum Materials from a “buy” rating to a “hold” rating in a research note on Saturday, May 6th. Credit Suisse Group set a $33.00 target price on shares of Versum Materials and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Aegis upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Friday, June 23rd. Needham & Company LLC initiated coverage on shares of Versum Materials in a research note on Monday, July 10th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 target price (up previously from $34.00) on shares of Versum Materials in a research note on Wednesday, August 2nd.
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In other Versum Materials news, Director Jacques M. Croisetiere purchased 2,750 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average price of $36.00 per share, for a total transaction of $99,000.00. Following the completion of the purchase, the director now directly owns 8,376 shares in the company, valued at $301,536. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Versum Materials by 12.0% in the second quarter. BlackRock Inc. now owns 9,045,328 shares of the basic materials company’s stock valued at $293,975,000 after buying an additional 972,001 shares during the last quarter. Vanguard Group Inc. raised its stake in Versum Materials by 1.4% in the first quarter. Vanguard Group Inc. now owns 8,796,978 shares of the basic materials company’s stock valued at $269,187,000 after buying an additional 125,435 shares during the last quarter. Franklin Resources Inc. raised its stake in Versum Materials by 3.3% in the second quarter. Franklin Resources Inc. now owns 4,713,791 shares of the basic materials company’s stock valued at $153,198,000 after buying an additional 149,014 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in Versum Materials by 38.8% in the second quarter. Iridian Asset Management LLC CT now owns 4,413,786 shares of the basic materials company’s stock valued at $143,448,000 after buying an additional 1,234,079 shares during the last quarter. Finally, Shapiro Capital Management LLC raised its stake in Versum Materials by 39.9% in the first quarter. Shapiro Capital Management LLC now owns 4,234,338 shares of the basic materials company’s stock valued at $129,571,000 after buying an additional 1,207,568 shares during the last quarter. 88.60% of the stock is owned by institutional investors.
Shares of Versum Materials (NYSE VSM) opened at 34.92 on Friday. The company has a 50-day moving average price of $34.16 and a 200 day moving average price of $31.30. The company has a market capitalization of $3.80 billion and a price-to-earnings ratio of 19.73. Versum Materials has a one year low of $21.86 and a one year high of $37.40.
Versum Materials (NYSE:VSM) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. Versum Materials had a net margin of 17.91% and a negative return on equity of 261.88%. The company had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $265.64 million. During the same period in the prior year, the company earned $0.45 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, analysts forecast that Versum Materials will post $1.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Thursday, August 3rd.
About Versum Materials
Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.
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