Virtus Investment Partners Cut to Fair Value at Furey Research Partners (VRTS)
Virtus Investment Partners (NASDAQ:VRTS) was downgraded by equities research analysts at Furey Research Partners from a “buy” rating to a “fair value” rating in a research note issued to investors on Friday.
Virtus Investment Partners (NASDAQ:VRTS) opened at 205.31 on Friday. Virtus Investment Partners has a 1-year low of $152.61 and a 1-year high of $227.29. The stock’s 50-day moving average is $211.6 and its 200-day moving average is $194.. The company has a market cap of $1.872 billion and a P/E ratio of 21.32.
Virtus Investment Partners (NASDAQ:VRTS) last released its earnings data on Monday, July 28th. The company reported $2.10 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.57 by $0.47. The company had revenue of $112.70 million for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter last year, the company posted $1.91 earnings per share. Virtus Investment Partners’s revenue was up 17.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Wednesday, October 29th.
A number of other analysts have also recently weighed in on VRTS. Analysts at Raymond James reiterated an “outperform” rating on shares of Virtus Investment Partners in a research note on Tuesday, July 29th. They now have a $235.00 price target on the stock, down previously from $245.00. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Virtus Investment Partners in a research note on Tuesday, July 29th. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Virtus Investment Partners in a research note on Tuesday, July 29th. They now have a $234.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Virtus Investment Partners has a consensus rating of “Hold” and an average price target of $218.20.
Virtus Investment Partners, Inc (NASDAQ:VRTS) is a provider of investment management products and services to individuals and institutions.
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