Zacks Investment Research cut shares of Veoneer (NYSE:VNE) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “Veoneer, Inc. manufactures automotive safety products. The Company offers radar systems, brakes, driver monitoring equipment, restraint controls and driver assist software. Veoneer, Inc. is based in Stockholm, Sweden. “

Several other research firms have also issued reports on VNE. Guggenheim started coverage on shares of Veoneer in a research report on Wednesday, June 20th. They issued a neutral rating and a $38.00 price objective for the company. Mizuho started coverage on shares of Veoneer in a research report on Tuesday, July 17th. They issued a buy rating and a $60.00 price objective for the company. Cowen started coverage on shares of Veoneer in a research report on Monday, July 2nd. They issued a market perform rating and a $39.00 price objective for the company. Citigroup started coverage on shares of Veoneer in a research report on Wednesday, July 18th. They issued a neutral rating and a $51.00 price objective for the company. Finally, Jefferies Financial Group started coverage on shares of Veoneer in a research report on Monday, July 16th. They issued a hold rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $47.07.

Shares of Veoneer stock traded up $0.34 during trading hours on Thursday, hitting $52.44. The company’s stock had a trading volume of 485 shares, compared to its average volume of 355,586. Veoneer has a 1-year low of $39.50 and a 1-year high of $56.49.

Veoneer (NYSE:VNE) last released its quarterly earnings data on Friday, July 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.08). The firm had revenue of $572.00 million for the quarter, compared to the consensus estimate of $592.80 million. research analysts anticipate that Veoneer will post -2.55 EPS for the current fiscal year.

In other news, CEO Jan Carlson bought 50,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was acquired at an average cost of $50.65 per share, for a total transaction of $2,532,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mikko S. Taipale bought 600 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was purchased at an average price of $50.71 per share, with a total value of $30,426.00. The disclosure for this purchase can be found here. Insiders bought 53,100 shares of company stock valued at $2,701,501 over the last 90 days.

A hedge fund recently bought a new stake in Veoneer stock. Phoenix Investment Adviser LLC bought a new stake in Veoneer Inc (NYSE:VNE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,600 shares of the company’s stock, valued at approximately $144,000. Institutional investors own 7.93% of the company’s stock.

About Veoneer

Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronics products. The company offers automotive radars, cameras with driver assist systems, night vision systems, positioning systems, restraint control, sensing, and brake systems. The company is based in Stockholm, Sweden.

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