Versum Materials Inc. (VSM) Given Average Recommendation of “Buy” by Brokerages
Versum Materials Inc. (NYSE:VSM) has been assigned a consensus recommendation of “Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $38.11.
VSM has been the topic of several analyst reports. Zacks Investment Research lowered Versum Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Needham & Company LLC initiated coverage on Versum Materials in a research note on Monday, July 10th. They issued a “buy” rating and a $38.00 target price on the stock. ValuEngine raised Versum Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, September 20th. Credit Suisse Group set a $40.00 target price on Versum Materials and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus initiated coverage on Versum Materials in a research note on Wednesday, September 20th. They issued a “hold” rating and a $42.00 target price on the stock.
Versum Materials (NYSE VSM) opened at 40.02 on Wednesday. Versum Materials has a 12-month low of $22.17 and a 12-month high of $40.46. The company’s 50-day moving average price is $38.46 and its 200-day moving average price is $34.34. The firm has a market capitalization of $4.35 billion and a price-to-earnings ratio of 22.61.
Versum Materials (NYSE:VSM) last released its earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. Versum Materials had a negative return on equity of 261.88% and a net margin of 17.91%. The firm had revenue of $290.80 million for the quarter, compared to analyst estimates of $265.64 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 19.8% on a year-over-year basis. Equities 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 stock in a transaction on Thursday, August 3rd. The stock was bought at an average cost of $36.00 per share, for a total transaction of $99,000.00. Following the completion of the acquisition, the director now directly owns 8,376 shares of the company’s stock, valued at $301,536. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the business. McQueen Ball & Associates Inc. bought a new stake in shares of Versum Materials in the third quarter worth about $228,000. California State Teachers Retirement System increased its holdings in shares of Versum Materials by 2.2% in the second quarter. California State Teachers Retirement System now owns 199,672 shares of the basic materials company’s stock worth $6,489,000 after acquiring an additional 4,340 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Versum Materials by 10.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 18,393 shares of the basic materials company’s stock worth $598,000 after acquiring an additional 1,731 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Versum Materials by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 592,701 shares of the basic materials company’s stock worth $19,263,000 after acquiring an additional 53,052 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Versum Materials by 34.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 402,776 shares of the basic materials company’s stock worth $13,090,000 after acquiring an additional 104,000 shares in the last quarter. Institutional investors own 89.61% of the company’s stock.
Versum Materials Company Profile
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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