Veoneer (NYSE:VNE) Shares Gap Up to $23.87

Shares of Veoneer, Inc. (NYSE:VNE) gapped up before the market opened on Tuesday . The stock had previously closed at $23.87, but opened at $25.31. Veoneer shares last traded at $25.20, with a volume of 2,259 shares trading hands.

Several analysts recently commented on VNE shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Veoneer from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, February 4th. Royal Bank of Canada lowered shares of Veoneer from a “sector perform” rating to an “underperform” rating and increased their target price for the company from $15.00 to $17.00 in a research note on Thursday, January 7th. Mizuho boosted their price target on shares of Veoneer from $23.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Zacks Investment Research lowered shares of Veoneer from a “hold” rating to a “sell” rating in a report on Thursday, April 8th. Finally, Barclays boosted their price target on shares of Veoneer from $25.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, February 4th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.70.

The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -5.23 and a beta of 2.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.10 and a current ratio of 2.33. The company’s 50 day simple moving average is $25.88 and its two-hundred day simple moving average is $22.39.

Veoneer (NYSE:VNE) last released its quarterly earnings data on Wednesday, February 3rd. The company reported ($0.82) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.83) by $0.01. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $398.33 million. Veoneer had a negative net margin of 40.13% and a negative return on equity of 30.60%. On average, equities research analysts predict that Veoneer, Inc. will post -3.54 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its position in Veoneer by 160.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,826 shares of the company’s stock worth $39,000 after acquiring an additional 1,124 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Veoneer in the fourth quarter worth approximately $51,000. Citigroup Inc. grew its position in Veoneer by 206.2% in the fourth quarter. Citigroup Inc. now owns 3,417 shares of the company’s stock worth $73,000 after acquiring an additional 2,301 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Veoneer by 24.3% in the third quarter. Public Employees Retirement System of Ohio now owns 7,329 shares of the company’s stock worth $108,000 after acquiring an additional 1,435 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Veoneer in the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 26.26% of the company’s stock.

Veoneer Company Profile (NYSE:VNE)

Veoneer, Inc engages in the design, development, manufacture, and sale of automotive safety electronics primarily in North America, Europe, and Asia. It offers automotive radars, mono-and stereo-vision cameras, night driving assist systems, advanced driver assist systems (ADAS), electronic control units, airbag control units, crash sensors, seat belt pre-tensioner electronic controllers, and ADAS software for highly automated driving (HAD) and autonomous driving (AD).

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