Versum Materials Inc. (VSM) Given “Hold” Rating at Jefferies Group LLC
Versum Materials Inc. (NYSE:VSM)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group LLC in a report issued on Thursday. They presently have a $38.00 target price on the basic materials company’s stock. Jefferies Group LLC’s target price suggests a potential downside of 4.26% from the stock’s previous close.
Several other equities research analysts also recently issued reports on VSM. ValuEngine downgraded shares of Versum Materials from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Wednesday, August 2nd. Loop Capital assumed coverage on shares of Versum Materials in a research note on Thursday, September 28th. They issued a “buy” rating and a $47.00 price objective on the stock. Stifel Nicolaus assumed coverage on shares of Versum Materials in a research note on Wednesday, September 20th. They issued a “hold” rating and a $42.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Versum Materials in a research note on Tuesday, September 5th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Versum Materials presently has a consensus rating of “Buy” and a consensus price target of $38.20.
Versum Materials (VSM) traded up 1.41% during mid-day trading on Thursday, reaching $39.69. 184,735 shares of the company traded hands. The stock has a 50 day moving average price of $38.35 and a 200-day moving average price of $34.14. The company has a market capitalization of $4.32 billion and a P/E ratio of 22.42. Versum Materials has a 52-week low of $22.17 and a 52-week high of $40.46.
Versum Materials (NYSE:VSM) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $290.80 million for the quarter, compared to the consensus estimate of $265.64 million. Versum Materials had a net margin of 17.91% and a negative return on equity of 261.88%. Versum Materials’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. Analysts expect that Versum Materials will post $1.91 EPS for the current fiscal year.
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In other Versum Materials news, Director Jacques M. Croisetiere purchased 2,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $36.00 per share, for a total transaction of $99,000.00. Following the completion of the purchase, the director now directly owns 8,376 shares of the company’s stock, valued at $301,536. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.49% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of VSM. Alliancebernstein L.P. boosted its stake in Versum Materials by 120.3% during the first quarter. Alliancebernstein L.P. now owns 142,540 shares of the basic materials company’s stock worth $4,362,000 after buying an additional 77,828 shares in the last quarter. OppenheimerFunds Inc. acquired a new stake in Versum Materials during the first quarter worth $254,000. Principal Financial Group Inc. boosted its stake in Versum Materials by 2.5% during the first quarter. Principal Financial Group Inc. now owns 437,963 shares of the basic materials company’s stock worth $13,402,000 after buying an additional 10,528 shares in the last quarter. Wellington Management Group LLP boosted its stake in Versum Materials by 17.5% during the first quarter. Wellington Management Group LLP now owns 66,347 shares of the basic materials company’s stock worth $2,030,000 after buying an additional 9,902 shares in the last quarter. Finally, FMR LLC boosted its stake in Versum Materials by 27.7% during the first quarter. FMR LLC now owns 224,634 shares of the basic materials company’s stock worth $6,874,000 after buying an additional 48,724 shares in the last quarter. Hedge funds and other institutional investors own 89.60% of the company’s stock.
About Versum Materials
Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.
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