Veoneer (VNE) Upgraded to “Buy” at Longbow Research

Veoneer (NYSE:VNE) was upgraded by equities research analysts at Longbow Research from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $40.00 price target on the stock. Longbow Research’s price objective suggests a potential upside of 31.23% from the stock’s previous close.

VNE has been the subject of a number of other research reports. Morgan Stanley cut shares of Veoneer from an “overweight” rating to an “equal weight” rating and set a $43.00 target price for the company. in a report on Thursday, December 6th. Wolfe Research assumed coverage on shares of Veoneer in a report on Tuesday, October 2nd. They issued an “underperform” rating for the company. Jefferies Financial Group raised shares of Veoneer from a “hold” rating to a “buy” rating and dropped their target price for the stock from $50.00 to $42.00 in a report on Thursday, November 8th. UBS Group cut shares of Veoneer from a “neutral” rating to a “sell” rating and set a $44.00 target price for the company. in a report on Tuesday, October 2nd. They noted that the move was a valuation call. Finally, Evercore ISI cut shares of Veoneer from an “in-line” rating to an “underperform” rating and set a $35.00 target price for the company. in a report on Friday, October 12th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $42.53.

VNE stock opened at $30.48 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.62 and a quick ratio of 2.35. Veoneer has a 12 month low of $22.63 and a 12 month high of $57.93.

Veoneer (NYSE:VNE) last posted its earnings results on Thursday, October 25th. The company reported ($0.78) EPS for the quarter, hitting analysts’ consensus estimates of ($0.78). The company had revenue of $526.00 million during the quarter, compared to the consensus estimate of $532.60 million. As a group, equities analysts predict that Veoneer will post -2.93 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new position in shares of Veoneer in the third quarter valued at approximately $109,000. LSV Asset Management acquired a new position in shares of Veoneer in the third quarter valued at approximately $132,000. Panagora Asset Management Inc. acquired a new position in shares of Veoneer in the third quarter valued at approximately $138,000. Gabelli Funds LLC acquired a new position in shares of Veoneer in the third quarter valued at approximately $220,000. Finally, Summit Securities Group LLC acquired a new position in shares of Veoneer in the third quarter valued at approximately $220,000. 27.86% of the stock is owned by institutional investors.

About Veoneer

Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronics products. The company offers automotive radars, cameras with driver assist systems, night vision systems, positioning systems, restraint control, sensing, and brake systems. The company is based in Stockholm, Sweden.

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Analyst Recommendations for Veoneer (NYSE:VNE)

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