Royal Bank of Canada Reiterates “Outperform” Rating for V2X (NYSE:VVX)

V2X (NYSE:VVX)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $55.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 20.85% from the company’s previous close.

VVX has been the topic of several other research reports. JMP Securities reiterated a “market outperform” rating and set a $65.00 price target on shares of V2X in a research note on Friday, May 17th. Stifel Nicolaus lifted their target price on shares of V2X from $52.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th.

V2X Stock Down 0.5 %

Shares of VVX stock traded down $0.24 during trading hours on Wednesday, hitting $45.51. 22,927 shares of the company’s stock traded hands, compared to its average volume of 86,270. The stock’s fifty day simple moving average is $48.53 and its two-hundred day simple moving average is $45.57. V2X has a 12-month low of $37.04 and a 12-month high of $56.75. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -351.46 and a beta of 0.59. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.16.

V2X (NYSE:VVX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.01). V2X had a negative net margin of 0.10% and a positive return on equity of 12.25%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business earned $1.01 EPS. V2X’s revenue was up 9.6% on a year-over-year basis. On average, analysts expect that V2X will post 4.09 EPS for the current year.

Hedge Funds Weigh In On V2X

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of V2X by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 566,846 shares of the company’s stock worth $29,283,000 after purchasing an additional 9,308 shares during the period. Raymond James & Associates lifted its position in V2X by 22.6% during the fourth quarter. Raymond James & Associates now owns 16,115 shares of the company’s stock valued at $748,000 after acquiring an additional 2,974 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in V2X by 24.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,239 shares of the company’s stock valued at $383,000 after acquiring an additional 1,612 shares during the last quarter. Strs Ohio acquired a new position in V2X during the 4th quarter valued at approximately $78,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in V2X during the 4th quarter valued at approximately $473,000. 95.18% of the stock is currently owned by institutional investors.

V2X Company Profile

V2X, Inc provides critical mission solutions and support services to defense clients worldwide. It offers a suite of integrated solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian, and international clients. The company was incorporated in 2014 and is headquartered in Mclean, Virginia.