Veoneer (NYSE:VNE) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $42.00 price target on the stock, down from their prior price target of $50.00. Jefferies Financial Group’s target price indicates a potential upside of 23.24% from the company’s previous close.
Several other equities analysts have also recently issued reports on the company. UBS Group cut Veoneer from a “neutral” rating to a “sell” rating and set a $44.00 target price on the stock. in a research note on Tuesday, October 2nd. They noted that the move was a valuation call. Royal Bank of Canada boosted their target price on Veoneer to $50.00 and gave the company a “sector perform” rating in a research note on Thursday, September 27th. Macquarie started coverage on Veoneer in a research note on Monday, October 8th. They set a “neutral” rating on the stock. Zacks Investment Research cut Veoneer from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Finally, Evercore ISI cut Veoneer from an “in-line” rating to an “underperform” rating and set a $35.00 target price on the stock. in a research note on Friday, October 12th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $45.80.
Shares of VNE stock opened at $34.08 on Thursday. The company has a current ratio of 2.62, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Veoneer has a fifty-two week low of $30.74 and a fifty-two week high of $57.93.
Veoneer (NYSE:VNE) last announced its quarterly earnings data on Thursday, October 25th. The company reported ($0.78) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.78). The company had revenue of $526.00 million during the quarter, compared to the consensus estimate of $532.60 million. Equities research analysts anticipate that Veoneer will post -2.81 EPS for the current year.
In other news, EVP Arthur Blanchford purchased 632 shares of Veoneer stock in a transaction that occurred on Wednesday, August 22nd. The shares were bought at an average cost of $51.68 per share, with a total value of $32,661.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jan Carlson purchased 50,000 shares of Veoneer stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average cost of $50.65 per share, for a total transaction of $2,532,500.00. The disclosure for this purchase can be found here.
Hedge funds have recently modified their holdings of the stock. Anderson Hoagland & Co. purchased a new stake in Veoneer in the third quarter worth $756,000. Phoenix Investment Adviser LLC purchased a new stake in Veoneer in the second quarter worth $144,000. Nikko Asset Management Americas Inc. purchased a new stake in Veoneer in the third quarter worth $7,478,000. Nisa Investment Advisors LLC purchased a new stake in Veoneer in the third quarter worth $531,000. Finally, BTIM Corp. purchased a new stake in Veoneer in the third quarter worth $6,037,000. 8.43% of the stock is currently owned by institutional investors.
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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