Veoneer Inc (NYSE:VNE) Receives $35.42 Consensus Price Target from Analysts

Shares of Veoneer Inc (NYSE:VNE) have received a consensus rating of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $32.67.

Several equities research analysts recently issued reports on VNE shares. Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday. Mizuho decreased their price target on shares of Veoneer from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. BMO Capital Markets lowered shares of Iamgold from an “outperform” rating to a “market perform” rating in a report on Monday, May 6th. Barclays reaffirmed a “buy” rating on shares of NXP Semiconductors in a report on Sunday, May 5th. Finally, Robert W. Baird lifted their price target on shares of Shopify from $208.00 to $269.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th.

VNE stock traded up $0.86 during mid-day trading on Friday, hitting $16.34. The stock had a trading volume of 894,547 shares, compared to its average volume of 474,052. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.28 and a quick ratio of 1.99. Veoneer has a 52 week low of $15.41 and a 52 week high of $57.93. The stock has a market capitalization of $1.35 billion and a price-to-earnings ratio of -5.15. The stock’s fifty day moving average is $16.75.

Veoneer (NYSE:VNE) last announced its quarterly earnings results on Monday, April 29th. The company reported ($1.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.31) by ($0.26). The company had revenue of $494.00 million for the quarter, compared to the consensus estimate of $512.35 million. Veoneer had a negative net margin of 17.96% and a negative return on equity of 19.50%. As a group, analysts anticipate that Veoneer will post -5.2 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Gateway Investment Advisers LLC grew its position in Veoneer by 118.4% during the second quarter. Gateway Investment Advisers LLC now owns 120,305 shares of the company’s stock valued at $2,082,000 after buying an additional 65,223 shares during the period. AMF Pensionsforsakring AB bought a new position in Veoneer during the second quarter valued at about $41,544,000. DNB Asset Management AS bought a new position in Veoneer during the second quarter valued at about $18,090,000. Syquant Capital Sas bought a new position in Veoneer during the second quarter valued at about $1,991,000. Finally, First Trust Advisors LP grew its position in Veoneer by 14.0% during the first quarter. First Trust Advisors LP now owns 45,426 shares of the company’s stock valued at $1,039,000 after buying an additional 5,577 shares during the period. 23.40% 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 electronic products in Asia, the Americas, and Europe. It operates in two segments, Electronics and Brake Systems. The company provides automotive radars, night driving assist systems, positioning systems, advanced driver assistance systems (ADAS), night vision systems, brake control systems, electronic control units, active safety sensors, and controllers; mono-and stereo-vision cameras; and passive safety electronics, such as airbag control units and crash sensors.

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Analyst Recommendations for Veoneer (NYSE:VNE)

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