StockNews.com Initiates Coverage on Vector Group (NYSE:VGR)

StockNews.com started coverage on shares of Vector Group (NYSE:VGR) in a research report issued on Tuesday. The brokerage set a “buy” rating on the stock.

Separately, Barclays lifted their target price on Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th.

Vector Group Price Performance

Shares of NYSE:VGR opened at $14.91 on Tuesday. Vector Group has a one year low of $9.27 and a one year high of $15.53. The stock has a market capitalization of $2.35 billion, a PE ratio of 12.85 and a beta of 1.04. The company’s 50-day moving average price is $13.90 and its two-hundred day moving average price is $11.81.

Vector Group (NYSE:VGR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04. Vector Group had a net margin of 14.05% and a negative return on equity of 26.96%. The firm had revenue of $371.91 million for the quarter, compared to the consensus estimate of $362.90 million. On average, analysts anticipate that Vector Group will post 1.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vector Group

A number of hedge funds have recently modified their holdings of VGR. Canada Pension Plan Investment Board purchased a new stake in Vector Group during the second quarter valued at about $59,000. ORG Partners LLC raised its holdings in shares of Vector Group by 252.3% during the second quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock valued at $66,000 after purchasing an additional 4,325 shares during the last quarter. Quarry LP grew its stake in shares of Vector Group by 112.6% during the 2nd quarter. Quarry LP now owns 9,648 shares of the company’s stock valued at $102,000 after purchasing an additional 5,110 shares during the period. Somerset Trust Co purchased a new position in shares of Vector Group during the 2nd quarter worth $110,000. Finally, SpiderRock Advisors LLC purchased a new stake in Vector Group in the first quarter worth about $112,000. Institutional investors own 64.09% of the company’s stock.

Vector Group Company Profile

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20’s, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.