Vishay Precision Group (NYSE:VPG) Shares Gap Down After Earnings Miss

Shares of Vishay Precision Group, Inc. (NYSE:VPG) gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $101.00, but opened at $68.22. Vishay Precision Group shares last traded at $74.80, with a volume of 814,201 shares trading hands.

The scientific and technical instruments company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). The business had revenue of $83.94 million during the quarter, compared to analyst estimates of $87.44 million. Vishay Precision Group had a net margin of 1.85% and a return on equity of 2.28%.

Analyst Ratings Changes

Several brokerages have issued reports on VPG. B. Riley Financial lifted their price target on shares of Vishay Precision Group from $63.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Vishay Precision Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised Vishay Precision Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research lowered Vishay Precision Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Lake Street Capital increased their price target on Vishay Precision Group from $54.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Institutional Investors Weigh In On Vishay Precision Group

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its holdings in shares of Vishay Precision Group by 826.7% in the third quarter. Russell Investments Group Ltd. now owns 1,112 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 992 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Vishay Precision Group by 1,180.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,024 shares of the scientific and technical instruments company’s stock valued at $39,000 after purchasing an additional 944 shares during the period. Strs Ohio bought a new position in shares of Vishay Precision Group in the first quarter valued at about $39,000. Kestra Advisory Services LLC acquired a new stake in shares of Vishay Precision Group during the 4th quarter worth about $51,000. Finally, Optiver Holding B.V. lifted its stake in shares of Vishay Precision Group by 1,195.3% during the 1st quarter. Optiver Holding B.V. now owns 1,373 shares of the scientific and technical instruments company’s stock worth $60,000 after buying an additional 1,267 shares during the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.

Vishay Precision Group Stock Down 24.6%

The firm has a market cap of $1.01 billion, a P/E ratio of 169.23, a P/E/G ratio of 4.70 and a beta of 1.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.97 and a current ratio of 4.47. The firm’s fifty day moving average is $119.80 and its 200 day moving average is $78.03.

About Vishay Precision Group

Vishay Precision Group (NYSE: VPG) specializes in the design, manufacture and calibration of precision sensors, instrumentation and measurement systems used in a broad range of applications. Its product portfolio includes load cells, tension links, weighing modules, torque transducers, digital indicators and data acquisition systems. These solutions serve critical requirements for accuracy, reliability and repeatability in sectors such as industrial automation, test and measurement, medical devices, food and beverage processing, aerospace and defense.

The company traces its roots to the sensor and measurement division of Vishay Intertechnology, Inc, from which it was spun off as an independent public company in March 2016.