Stifel Nicolaus Initiates Coverage on Vectrus Inc. (VEC)
Stifel Nicolaus assumed coverage on shares of Vectrus Inc. (NYSE:VEC) in a report issued on Thursday. The firm set a “hold” rating and a $22.00 price target on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 44.45% from the stock’s previous close.
Vectrus (NYSE:VEC) opened at 15.23 on Thursday. Vectrus has a 1-year low of $12.50 and a 1-year high of $34.98. The stock has a 50 day moving average price of $29.31 and a 200-day moving average price of $26.55. The stock has a market capitalization of $163.40 million, a P/E ratio of 5.08 and a beta of 1.85.
Vectrus (NYSE:VEC) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by $0.02. The firm earned $307.90 million during the quarter, compared to analysts’ expectations of $295.65 million. Vectrus had a net margin of 2.66% and a return on equity of 27.52%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. Equities research analysts expect that Vectrus will post $2.29 EPS for the current year.
In related news, SVP Kelvin Coppock sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $32.54, for a total value of $65,080.00. Following the completion of the sale, the senior vice president now owns 6,792 shares in the company, valued at $221,011.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in VEC. Smith Asset Management Group LP increased its position in shares of Vectrus by 10.6% in the second quarter. Smith Asset Management Group LP now owns 61,620 shares of the company’s stock worth $1,756,000 after buying an additional 5,920 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of Vectrus during the second quarter worth approximately $659,000. Bank of New York Mellon Corp increased its position in shares of Vectrus by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 57,542 shares of the company’s stock worth $1,639,000 after buying an additional 2,490 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Vectrus during the second quarter worth approximately $12,305,000. Finally, California Public Employees Retirement System increased its position in shares of Vectrus by 10.5% in the second quarter. California Public Employees Retirement System now owns 32,500 shares of the company’s stock worth $926,000 after buying an additional 3,100 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.
Vectrus, Inc is a provider of services to the United States Government across the world. The Company offers services, including infrastructure asset management, logistics and supply chain management, and information technology and network communication. Its infrastructure asset management services support the United States Army, Air Force and Navy, and include infrastructure services, security, warehouse management and distribution, ammunition management, civil engineering, air base maintenance and operations, communications, emergency services, transportation, and life support activities at various global military installations.
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