Vector Group Ltd. (VGR) Downgraded to Hold at BidaskClub
Vector Group Ltd. (NYSE:VGR) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday, July 5th.
Separately, Zacks Investment Research raised Vector Group from a “sell” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, May 3rd.
Vector Group (NYSE VGR) traded up 4.22% during mid-day trading on Wednesday, hitting $20.73. 1,244,500 shares of the stock were exchanged. The company has a market cap of $2.68 billion, a P/E ratio of 56.18 and a beta of 0.46. Vector Group has a one year low of $19.63 and a one year high of $23.24. The company has a 50-day moving average price of $21.25 and a 200-day moving average price of $21.53.
Vector Group (NYSE:VGR) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The company had revenue of $472 million for the quarter, compared to the consensus estimate of $449.40 million. Vector Group had a negative return on equity of 37.58% and a net margin of 2.76%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. On average, analysts predict that Vector Group will post $0.64 earnings per share for the current fiscal year.
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In other news, insider Howard M. Lorber sold 226,834 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $21.36, for a total value of $4,845,174.24. Following the completion of the transaction, the insider now directly owns 436,665 shares of the company’s stock, valued at $9,327,164.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. purchased a new position in shares of Vector Group during the fourth quarter valued at $139,000. Envestnet Asset Management Inc. raised its position in shares of Vector Group by 55.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,746 shares of the company’s stock valued at $153,000 after buying an additional 2,411 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Vector Group during the first quarter valued at $167,000. Waldron LP purchased a new position in shares of Vector Group during the first quarter valued at $202,000. Finally, Park Avenue Securities LLC purchased a new position in shares of Vector Group during the first quarter valued at $210,000. 47.14% of the stock is owned by institutional investors.
Vector Group Company Profile
Vector Group Ltd. is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc (Vector Tobacco) subsidiaries, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects.
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