Versum Materials (VSM) Given New $45.00 Price Target at Credit Suisse Group

Versum Materials (NYSE:VSM) had its price objective decreased by investment analysts at Credit Suisse Group from $46.00 to $45.00 in a note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 28.42% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on VSM. Zacks Investment Research cut shares of Versum Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Jefferies Group reaffirmed a “hold” rating and set a $38.00 target price on shares of Versum Materials in a report on Thursday, October 19th. KeyCorp reaffirmed an “overweight” rating and set a $4.00 target price (down previously from $41.00) on shares of Versum Materials in a report on Friday, November 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price (up previously from $41.00) on shares of Versum Materials in a report on Friday, November 10th. Finally, ValuEngine lowered shares of Versum Materials from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $37.25.

Versum Materials (NYSE:VSM) traded up $0.64 during trading hours on Wednesday, reaching $35.04. 677,643 shares of the company’s stock were exchanged, compared to its average volume of 541,834. The company has a debt-to-equity ratio of 16.37, a current ratio of 4.13 and a quick ratio of 2.88. The firm has a market capitalization of $3,810.00 and a PE ratio of 23.84. Versum Materials has a 52 week low of $28.32 and a 52 week high of $42.74.

Versum Materials (NYSE:VSM) last posted its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.03. The company had revenue of $330.80 million during the quarter, compared to analysts’ expectations of $295.68 million. Versum Materials had a net margin of 13.55% and a return on equity of 6,666.66%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. equities research analysts predict that Versum Materials will post 2.21 earnings per share for the current year.

In other news, Director Susan C. Schnabel acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $34.64 per share, with a total value of $86,600.00. Following the completion of the acquisition, the director now owns 14,335 shares of the company’s stock, valued at approximately $496,564.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Riordan acquired 2,550 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $38.90 per share, with a total value of $99,195.00. Following the acquisition, the director now directly owns 5,511 shares of the company’s stock, valued at approximately $214,377.90. The disclosure for this purchase can be found here. Corporate insiders own 0.49% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its holdings in shares of Versum Materials by 0.5% in the second quarter. Parametric Portfolio Associates LLC now owns 212,258 shares of the basic materials company’s stock valued at $6,898,000 after purchasing an additional 1,073 shares during the period. Raymond James Financial Services Advisors Inc. grew 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 valued at $598,000 after purchasing an additional 1,731 shares during the period. California Public Employees Retirement System grew its holdings in shares of Versum Materials by 2.2% in the second quarter. California Public Employees Retirement System now owns 193,950 shares of the basic materials company’s stock valued at $6,303,000 after purchasing an additional 4,200 shares during the period. California State Teachers Retirement System grew 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 valued at $6,489,000 after purchasing an additional 4,340 shares during the period. Finally, McQueen Ball & Associates Inc. purchased a new stake in shares of Versum Materials in the third quarter valued at about $228,000. 90.72% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Versum Materials (NYSE:VSM)

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