Morgan Stanley downgraded shares of Veoneer (NYSE:VNE) from an overweight rating to an equal weight rating in a research note issued to investors on Thursday, MarketBeat reports. Morgan Stanley currently has $43.00 target price on the stock.
Other analysts have also recently issued reports about the company. Jefferies Financial Group upgraded Veoneer from a hold rating to a buy rating and lowered their target price for the company from $50.00 to $42.00 in a research report on Thursday, November 8th. Longbow Research restated a hold rating on shares of Veoneer in a research report on Friday, August 24th. Buckingham Research set a $34.00 target price on Veoneer and gave the company a hold rating in a research report on Tuesday, October 30th. Macquarie initiated coverage on Veoneer in a research report on Monday, October 8th. They issued a neutral rating on the stock. Finally, BMO Capital Markets lowered their target price on Veoneer from $60.00 to $49.00 and set an outperform rating on the stock in a research report on Monday, November 5th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $44.47.
VNE opened at $31.36 on Thursday. Veoneer has a 12 month low of $30.01 and a 12 month high of $57.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.62.
Veoneer (NYSE:VNE) last posted its earnings results on Thursday, October 25th. The company reported ($0.78) EPS for the quarter, meeting the consensus estimate of ($0.78). The business had revenue of $526.00 million during the quarter, compared to analyst estimates of $532.60 million. On average, analysts anticipate that Veoneer will post -2.94 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. FMR LLC acquired a new position in shares of Veoneer during the 3rd quarter valued at $130,329,000. BlackRock Inc. acquired a new position in shares of Veoneer during the 3rd quarter valued at $127,194,000. Vanguard Group Inc. acquired a new position in shares of Veoneer during the 3rd quarter valued at $76,750,000. Credit Suisse AG acquired a new position in shares of Veoneer during the 3rd quarter valued at $64,380,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Veoneer during the 3rd quarter valued at $53,887,000. Institutional investors own 27.87% of the company’s stock.
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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