VOXX International Corp. Shares Down 3.5% After Earnings Miss (VOXX)
VOXX International Corp. (NASDAQ:VOXX)’s share price traded down 3.5% during trading on Wednesday following a weaker than expected earnings announcement, Analyst Ratings.Net reports. The stock traded as low as $10.31 and last traded at $10.40, with a volume of 141,950 shares traded. The stock had previously closed at $10.78.
The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.59. The company had revenue of $187.10 million for the quarter, compared to the consensus estimate of $205.47 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was down 9.5% on a year-over-year basis.
Separately, analysts at Zacks upgraded shares of VOXX International Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 18th. They now have a $13.50 price target on the stock. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.38.
The stock’s 50-day moving average is $12.44 and its 200-day moving average is $14.2. The company has a market cap of $245.5 million and a price-to-earnings ratio of 7.94.
VOXX International Corporation (NASDAQ:VOXX), formerly Audiovox Corporation, is an international distributor in the accessory, mobile and consumer electronics industries.
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