V2X (NYSE:VVX) Reaches New 1-Year High on Better-Than-Expected Earnings

V2X, Inc. (NYSE:VVX) shares hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $66.00 and last traded at $63.66, with a volume of 31196 shares traded. The stock had previously closed at $61.91.

The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.22. V2X had a positive return on equity of 11.69% and a negative net margin of 0.30%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VVX. Royal Bank of Canada restated an “outperform” rating and set a $55.00 target price on shares of V2X in a report on Wednesday, August 7th. Baird R W upgraded V2X to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Robert W. Baird began coverage on V2X in a research report on Friday, October 11th. They set an “outperform” rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $62.20.

Insider Activity

In related news, Director Eric M. Pillmore acquired 3,125 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $48.00 per share, for a total transaction of $150,000.00. Following the completion of the acquisition, the director now directly owns 41,516 shares of the company’s stock, valued at approximately $1,992,768. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other V2X news, Director Eric M. Pillmore acquired 3,125 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $48.00 per share, with a total value of $150,000.00. Following the purchase, the director now directly owns 41,516 shares of the company’s stock, valued at approximately $1,992,768. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Shawn Mural bought 937 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $48.00 per share, with a total value of $44,976.00. Following the completion of the acquisition, the chief financial officer now owns 1,437 shares of the company’s stock, valued at approximately $68,976. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 11,936 shares of company stock valued at $572,928. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On V2X

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of V2X by 2.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,164 shares of the company’s stock worth $475,000 after purchasing an additional 287 shares during the last quarter. Quest Partners LLC increased its holdings in shares of V2X by 112.3% during the 2nd quarter. Quest Partners LLC now owns 673 shares of the company’s stock worth $32,000 after purchasing an additional 356 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of V2X by 1.9% in the third quarter. Assenagon Asset Management S.A. now owns 20,778 shares of the company’s stock valued at $1,161,000 after buying an additional 394 shares during the period. US Bancorp DE grew its position in V2X by 81.0% during the third quarter. US Bancorp DE now owns 1,028 shares of the company’s stock worth $57,000 after buying an additional 460 shares in the last quarter. Finally, Lakewood Asset Management LLC increased its stake in V2X by 8.1% during the third quarter. Lakewood Asset Management LLC now owns 6,185 shares of the company’s stock valued at $345,000 after acquiring an additional 462 shares during the period. Institutional investors own 95.18% of the company’s stock.

V2X Price Performance

The company has a market cap of $1.90 billion, a P/E ratio of -154.78 and a beta of 0.57. The stock has a 50-day simple moving average of $57.29 and a 200 day simple moving average of $51.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.10 and a current ratio of 1.10.

About V2X

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.