V2X (NYSE:VVX) Hits New 52-Week High on Earnings Beat

V2X, Inc. (NYSE:VVX)’s stock price hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $66.00 and last traded at $63.66, with a volume of 31196 shares changing hands. The stock had previously closed at $61.91.

The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.22. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. V2X had a negative net margin of 0.30% and a positive return on equity of 11.69%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Baird R W upgraded shares of V2X to a “strong-buy” rating in a report on Friday, October 11th. Raymond James raised their price objective on V2X from $60.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Robert W. Baird started coverage on V2X in a research report on Friday, October 11th. They set an “outperform” rating and a $75.00 target price on the stock. JMP Securities raised their price target on V2X from $65.00 to $80.00 and gave the stock a “market outperform” rating in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of V2X in a report on Tuesday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, V2X has a consensus rating of “Buy” and a consensus price target of $70.60.

Insiders Place Their Bets

In related news, Director Eric M. Pillmore bought 3,125 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $48.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 41,516 shares in the company, valued at $1,992,768. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Shawn Mural acquired 937 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $48.00 per share, with a total value of $44,976.00. Following the completion of the acquisition, the chief financial officer now owns 1,437 shares of the company’s stock, valued at $68,976. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric M. Pillmore purchased 3,125 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $48.00 per share, with a total value of $150,000.00. Following the purchase, the director now owns 41,516 shares in the company, valued at approximately $1,992,768. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 11,936 shares of company stock worth $572,928. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On V2X

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versor Investments LP acquired a new position in shares of V2X in the third quarter worth $447,000. Olympiad Research LP purchased a new position in V2X in the third quarter valued at $299,000. Stephens Inc. AR purchased a new stake in V2X during the 3rd quarter worth about $247,000. US Bancorp DE raised its position in V2X by 81.0% in the 3rd quarter. US Bancorp DE now owns 1,028 shares of the company’s stock valued at $57,000 after purchasing an additional 460 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of V2X by 1.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 20,778 shares of the company’s stock valued at $1,161,000 after buying an additional 394 shares during the period. 95.18% of the stock is owned by hedge funds and other institutional investors.

V2X Stock Up 1.2 %

The firm has a market cap of $1.95 billion, a PE ratio of -156.70 and a beta of 0.57. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average price of $57.42 and a 200-day moving average price of $51.79.

V2X Company Profile

V2X, Inc provides critical mission solutions and support services to defense clients worldwide. It offers a suite of integrated solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian, and international clients. The company was incorporated in 2014 and is headquartered in Mclean, Virginia.