Analysts Set Versigent (NYSE:VGNT) Target Price at $54.00

Versigent (NYSE:VGNT) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $54.00.

VGNT has been the subject of several research reports. Wells Fargo & Company lifted their price target on shares of Versigent from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Oppenheimer set a $50.00 price target on Versigent in a report on Tuesday, July 21st. Royal Bank Of Canada raised Versigent from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $41.00 to $52.00 in a research note on Wednesday, August 5th. Weiss Ratings initiated coverage on shares of Versigent in a research report on Wednesday, August 5th. They set a “hold (c)” rating for the company. Finally, Fox Advisors cut Versigent from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, August 5th.

Versigent Stock Up 0.1%

VGNT stock opened at $49.26 on Friday. The company has a 50 day moving average of $43.07. Versigent has a twelve month low of $26.34 and a twelve month high of $50.88. The company has a market capitalization of $3.49 billion and a P/E ratio of 25.66. The company has a debt-to-equity ratio of 7.29, a quick ratio of 1.09 and a current ratio of 1.40.

Versigent (NYSE:VGNT) last released its quarterly earnings results 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 analyst estimates of $2.29 billion. On average, equities research analysts anticipate that Versigent will post 7.23 EPS for the current fiscal year.

Versigent Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nan Shan Life Insurance Co. Ltd. bought a new stake in shares of Versigent in the 2nd quarter worth approximately $5,400,000. Ancora Advisors LLC purchased a new position in Versigent during the second quarter valued at $4,197,000. Raiffeisen Bank International AG purchased a new position in Versigent during the second quarter valued at $1,182,000. Wellington Management Group LLP bought a new stake in Versigent in the second quarter worth $940,000. Finally, Figure 8 Investment Strategies LLC purchased a new stake in shares of Versigent in the second quarter worth $685,000.

Versigent Company Profile

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.