Zacks Investment Research Downgrades Voxx International Corp. (VOXX) to Sell
Voxx International Corp. (NASDAQ:VOXX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “VOXX International Corporation is engaged in marketing automobile sound, vehicle security, mobile video systems, and consumer electronics products. The Company markets its products under the RCA, Acoustic Research and TERK brands. VOXX International Corporation, formerly known as Audiovox Corporation, is headquartered in Hauppauge, New York. “
Shares of Voxx International Corp. (NASDAQ:VOXX) opened at 3.85 on Wednesday. The stock’s market cap is $93.02 million. Voxx International Corp. has a one year low of $2.47 and a one year high of $6.25. The firm has a 50-day moving average of $3.09 and a 200-day moving average of $3.29.
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Voxx International Corp. (NASDAQ:VOXX) last issued its quarterly earnings data on Tuesday, October 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. Voxx International Corp. had a net margin of 0.17% and a return on equity of 1.08%. The business earned $159.30 million during the quarter. During the same period in the previous year, the business earned $0.20 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Voxx International Corp. will post $0.26 earnings per share for the current fiscal year.
In other news, Director Denise W. Gibson bought 32,100 shares of the stock in a transaction dated Friday, September 16th. The stock was purchased at an average price of $3.13 per share, for a total transaction of $100,473.00. Following the acquisition, the director now owns 20,400 shares of the company’s stock, valued at $63,852. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ari Shalam bought 13,333 shares of the stock in a transaction dated Tuesday, October 4th. The stock was purchased at an average price of $2.99 per share, with a total value of $39,865.67. Following the acquisition, the director now directly owns 7,734 shares in the company, valued at approximately $23,124.66. The disclosure for this purchase can be found here. 17.51% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in VOXX. Algert Global LLC raised its stake in Voxx International Corp. by 21.7% in the third quarter. Algert Global LLC now owns 218,249 shares of the company’s stock valued at $653,000 after buying an additional 38,945 shares during the period. Paloma Partners Management Co purchased a new stake in Voxx International Corp. during the second quarter valued at about $243,000. Guggenheim Capital LLC raised its stake in Voxx International Corp. by 5.8% in the second quarter. Guggenheim Capital LLC now owns 406,042 shares of the company’s stock valued at $1,133,000 after buying an additional 22,429 shares during the period. Spark Investment Management LLC raised its stake in Voxx International Corp. by 4.2% in the second quarter. Spark Investment Management LLC now owns 140,500 shares of the company’s stock valued at $391,000 after buying an additional 5,700 shares during the period. Finally, Ancora Advisors LLC raised its stake in Voxx International Corp. by 13.2% in the second quarter. Ancora Advisors LLC now owns 193,596 shares of the company’s stock valued at $540,000 after buying an additional 22,500 shares during the period. Hedge funds and other institutional investors own 60.48% of the company’s stock.
Voxx International Corp. Company Profile
VOXX International Corporation is an international manufacturer and distributor in the automotive, audio and consumer accessories industries. The Company’s segments include Automotive, Premium Audio and Consumer Accessories. The Automotive segment designs, manufactures, distributes and markets rear-seat entertainment devices, satellite radio products, remote start systems, digital television tuners, mobile antennas, mobile multimedia devices, car link-smartphone telematics application, collision avoidance systems and others.
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