Stifel Nicolaus started coverage on shares of Versum Materials Inc. (NYSE:VSM) in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm issued a hold rating and a $42.00 price target on the basic materials company’s stock.

A number of other research analysts have also weighed in on the stock. ValuEngine raised shares of Versum Materials from a hold rating to a buy rating in a research note on Wednesday. Needham & Company LLC reaffirmed a buy rating and issued a $41.00 price target on shares of Versum Materials in a research note on Tuesday, September 5th. Jefferies Group LLC reaffirmed a hold rating and issued a $38.00 price target (up previously from $34.00) on shares of Versum Materials in a research note on Wednesday, August 2nd. Credit Suisse Group set a $40.00 price target on shares of Versum Materials and gave the company a buy rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of Versum Materials from a hold rating to a buy rating and set a $39.00 price target on the stock in a research note on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $35.27.

Shares of Versum Materials (NYSE:VSM) opened at 37.84 on Wednesday. The firm has a 50-day moving average of $37.83 and a 200-day moving average of $37.83. The stock has a market cap of $4.12 billion and a P/E ratio of 21.38. Versum Materials has a 52-week low of $21.86 and a 52-week high of $38.38.

Versum Materials (NYSE:VSM) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share 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 firm had revenue of $290.80 million for the quarter, compared to analyst estimates of $265.64 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. On average, equities analysts expect that Versum Materials will post $1.91 EPS for the current fiscal year.

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In other Versum Materials news, Director Jacques M. Croisetiere acquired 2,750 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average price of $36.00 per share, with a total value of $99,000.00. Following the completion of the transaction, the director now directly owns 8,376 shares in the company, valued at approximately $301,536. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.49% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC lifted its position in shares of Versum Materials by 0.4% in the second quarter. ProShare Advisors LLC now owns 15,614 shares of the basic materials company’s stock worth $507,000 after purchasing an additional 55 shares in the last quarter. Piedmont Investment Advisors LLC lifted its position in shares of Versum Materials by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 20,484 shares of the basic materials company’s stock worth $627,000 after purchasing an additional 179 shares in the last quarter. Comerica Bank lifted its position in shares of Versum Materials by 0.3% in the second quarter. Comerica Bank now owns 113,125 shares of the basic materials company’s stock worth $4,043,000 after purchasing an additional 287 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Versum Materials by 1.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 20,574 shares of the basic materials company’s stock worth $669,000 after purchasing an additional 309 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Versum Materials by 0.5% in the second quarter. Great West Life Assurance Co. Can now owns 66,277 shares of the basic materials company’s stock worth $2,153,000 after purchasing an additional 360 shares in the last quarter. 89.59% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Versum Materials (NYSE:VSM)

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