Veoneer Inc (VNE) Given Consensus Rating of “Hold” by Brokerages

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Shares of Veoneer Inc (NYSE:VNE) have been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $46.92.

Several research analysts have recently weighed in on the stock. Longbow Research cut shares of Veoneer from a “buy” rating to a “neutral” rating in a research report on Friday, August 3rd. Robert W. Baird reduced their price objective on shares of Veoneer from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 30th. Royal Bank of Canada restated a “hold” rating and issued a $42.00 price objective on shares of Veoneer in a report on Sunday, July 29th. Citigroup assumed coverage on shares of Veoneer in a report on Wednesday, July 18th. They issued a “neutral” rating and a $51.00 price objective on the stock. Finally, Mizuho assumed coverage on shares of Veoneer in a report on Tuesday, July 17th. They issued a “buy” rating and a $60.00 price objective on the stock.

Shares of VNE stock opened at $53.35 on Wednesday. Veoneer has a twelve month low of $39.50 and a twelve month high of $56.49.

Veoneer (NYSE:VNE) last announced its quarterly earnings results on Friday, July 27th. The company reported ($0.72) earnings per share 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 analysts’ expectations of $592.80 million. sell-side analysts expect that Veoneer will post -2.55 earnings per share for the current year.

In related news, CFO Mathias Hermansson acquired 2,500 shares of Veoneer stock in a transaction that occurred on Friday, August 10th. The shares were purchased at an average cost of $55.43 per share, for a total transaction of $138,575.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mikko S. Taipale acquired 600 shares of Veoneer stock in a transaction that occurred on Wednesday, August 1st. The stock was bought at an average price of $50.71 per share, for a total transaction of $30,426.00. The disclosure for this purchase can be found here.

A hedge fund recently bought a new stake in Veoneer stock. Phoenix Investment Adviser LLC purchased a new position in shares of Veoneer Inc (NYSE:VNE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,600 shares of the company’s stock, valued at approximately $144,000. 0.62% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Veoneer (NYSE:VNE)

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