Veoneer (NYSE:VNE) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $43.00 price target on the stock. Morgan Stanley’s price objective suggests a potential upside of 37.12% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Jefferies Financial Group reiterated a “hold” rating and issued a $34.00 target price on shares of Veoneer in a research note on Tuesday. Evercore ISI downgraded Veoneer from an “in-line” rating to an “underperform” rating and set a $35.00 price target on the stock. in a research note on Friday, October 12th. Zacks Investment Research downgraded Veoneer from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Longbow Research restated a “hold” rating on shares of Veoneer in a research note on Friday, August 24th. Finally, Wolfe Research started coverage on Veoneer in a research note on Tuesday, October 2nd. They issued an “underperform” rating on the stock. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Veoneer currently has a consensus rating of “Hold” and an average price target of $44.47.
Shares of VNE stock opened at $31.36 on Thursday. Veoneer has a twelve month low of $30.01 and a twelve month high of $57.93. 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 (NYSE:VNE) last announced its earnings results on Thursday, October 25th. The company reported ($0.78) earnings per share for the quarter, meeting the consensus estimate of ($0.78). The company had revenue of $526.00 million during the quarter, compared to analysts’ expectations of $532.60 million. Equities analysts predict that Veoneer will post -2.84 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of VNE. Bessemer Group Inc. acquired a new position in Veoneer during the third quarter worth $109,000. LSV Asset Management acquired a new position in Veoneer during the third quarter worth $132,000. Panagora Asset Management Inc. acquired a new position in Veoneer during the third quarter worth $138,000. Phoenix Investment Adviser LLC acquired a new position in Veoneer during the second quarter worth $144,000. Finally, Gabelli Funds LLC acquired a new position in Veoneer during the third quarter worth $220,000. Hedge funds and other institutional investors own 27.87% of the company’s stock.
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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