Several other equities research analysts also recently commented on the stock. Evercore ISI downgraded shares of Veoneer from an in-line rating to an underperform rating and set a $35.00 target price for the company. in a research report on Friday, October 12th. Macquarie began coverage on shares of Veoneer in a research report on Monday, October 8th. They issued a neutral rating for the company. Wolfe Research began coverage on shares of Veoneer in a research report on Tuesday, October 2nd. They issued an underperform rating for the company. UBS Group downgraded shares of Veoneer from a neutral rating to a sell rating and set a $44.00 price objective for the company. in a research report on Tuesday, October 2nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada boosted their target price on shares of Veoneer to $50.00 and gave the company a sector perform rating in a research note on Thursday, September 27th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $45.80.
VNE stock traded up $0.14 during midday trading on Tuesday, hitting $31.33. The stock had a trading volume of 486,999 shares, compared to its average volume of 698,912. 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 has a 1-year low of $30.65 and a 1-year high of $57.93.
Veoneer (NYSE:VNE) last released its earnings results on Thursday, October 25th. The company reported ($0.78) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.78). The firm had revenue of $526.00 million during the quarter, compared to analyst estimates of $532.60 million. Sell-side analysts expect that Veoneer will post -2.88 EPS for the current fiscal year.
In other news, CEO Jan Carlson bought 50,000 shares of the stock in a transaction on Thursday, August 30th. The shares were acquired at an average cost of $50.65 per share, for a total transaction of $2,532,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link.
Several large investors have recently modified their holdings of VNE. Folketrygdfondet bought a new position in shares of Veoneer in the 2nd quarter worth $11,897,000. Phoenix Investment Adviser LLC bought a new position in shares of Veoneer during the 2nd quarter valued at $144,000. Northern Trust Corp bought a new position in shares of Veoneer during the 2nd quarter valued at $1,053,000. Bank of Montreal Can bought a new position in shares of Veoneer during the 3rd quarter valued at $300,000. Finally, Nikko Asset Management Americas Inc. bought a new position in shares of Veoneer during the 3rd quarter valued at $7,478,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.
Veoneer Company Profile
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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