Versigent (NYSE:VGNT) Rating Lowered to Hold at Zacks Research

Versigent (NYSE:VGNT) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on VGNT. BNP Paribas Exane initiated coverage on shares of Versigent in a research note on Tuesday, April 28th. They issued an “outperform” rating and a $41.00 price objective for the company. Wolfe Research began coverage on Versigent in a research note on Thursday, April 30th. They issued an “outperform” rating and a $53.00 price target for the company. UBS Group reduced their price target on Versigent from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Fox Advisors downgraded Versigent from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of Versigent from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Versigent currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

Versigent Price Performance

Shares of NYSE VGNT opened at $42.88 on Wednesday. The company has a debt-to-equity ratio of 7.29, a current ratio of 1.40 and a quick ratio of 1.04. Versigent has a 12 month low of $26.34 and a 12 month high of $50.88. The business’s 50-day simple moving average is $43.36.

Versigent (NYSE:VGNT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. Equities analysts forecast that Versigent will post 7.14 earnings per share for the current fiscal year.

Versigent Company Profile

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.