VOXX International Corp (VOXX) Raised to Buy at Zacks Investment Research
VOXX International Corp (NASDAQ:VOXX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $6.50 price objective on the auto parts company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 6.56% from the company’s previous close.
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. “
Several other analysts have also recently issued reports on the stock. TheStreet raised shares of VOXX International Corp from a “d” rating to a “c-” rating in a report on Wednesday, May 17th. Cowen and Company reaffirmed a “market perform” rating and issued a $6.00 price target (up from $4.00) on shares of VOXX International Corp in a report on Wednesday, May 17th.
VOXX International Corp (NASDAQ:VOXX) traded down 2.049% during midday trading on Tuesday, reaching $5.975. 33,363 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $5.85 and its 200 day moving average is $4.99. VOXX International Corp has a 52 week low of $2.47 and a 52 week high of $7.40. The firm’s market capitalization is $144.36 million.
VOXX International Corp (NASDAQ:VOXX) last posted its quarterly earnings results on Monday, May 15th. The auto parts company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.06. The company had revenue of $167.39 million during the quarter, compared to analyst estimates of $174 million. VOXX International Corp had a negative net margin of 0.12% and a positive return on equity of 1.22%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) earnings per share. On average, analysts expect that VOXX International Corp will post $0.35 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in VOXX International Corp during the fourth quarter valued at $215,000. Dimensional Fund Advisors LP raised its stake in VOXX International Corp by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,788,998 shares of the auto parts company’s stock valued at $8,408,000 after buying an additional 36,060 shares during the last quarter. Royce & Associates LP raised its stake in VOXX International Corp by 22.9% in the fourth quarter. Royce & Associates LP now owns 1,783,875 shares of the auto parts company’s stock valued at $8,384,000 after buying an additional 331,997 shares during the last quarter. Renaissance Technologies LLC raised its stake in VOXX International Corp by 10.4% in the fourth quarter. Renaissance Technologies LLC now owns 265,600 shares of the auto parts company’s stock valued at $1,248,000 after buying an additional 24,959 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in VOXX International Corp by 78.8% in the fourth quarter. Two Sigma Investments LP now owns 157,775 shares of the auto parts company’s stock valued at $742,000 after buying an additional 69,527 shares during the last quarter. Hedge funds and other institutional investors own 58.32% of the company’s stock.
About VOXX International Corp
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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