Zacks Investment Research Downgrades Vectrus (NYSE:VEC) to Hold

Zacks Investment Research cut shares of Vectrus (NYSE:VEC) from a buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “Vectrus, Inc. engages in providing infrastructure asset management, logistics and supply chain management, and information technology and network communication services. Its services include operations, maintenance, management, engineering and sustainment for physical assets including a wide variety of facilities, information technology, network and communication systems, vehicles and equipment. The Company serves U.S. government customers worldwide. Vectrus, Inc. is based in United States. “

VEC has been the topic of a number of other reports. ValuEngine cut Vectrus from a buy rating to a hold rating in a research report on Thursday, August 1st. TheStreet raised Vectrus from a c+ rating to a b rating in a research report on Monday, April 15th. Noble Financial reaffirmed a hold rating on shares of Vectrus in a research report on Thursday. Drexel Hamilton raised Vectrus from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research report on Tuesday, April 16th. Finally, B. Riley initiated coverage on Vectrus in a research report on Tuesday, June 25th. They set a buy rating and a $49.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $46.33.

Shares of VEC stock traded down $1.01 during trading hours on Friday, reaching $42.46. 70,684 shares of the company traded hands, compared to its average volume of 99,460. Vectrus has a 12-month low of $19.61 and a 12-month high of $46.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.31 and a current ratio of 1.34. The stock has a market cap of $482.97 million, a P/E ratio of 14.44 and a beta of 1.83. The stock’s 50-day moving average price is $40.88.

Vectrus (NYSE:VEC) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. Vectrus had a return on equity of 15.37% and a net margin of 2.68%. The firm had revenue of $331.59 million for the quarter, compared to analysts’ expectations of $325.80 million. Sell-side analysts expect that Vectrus will post 3.22 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its holdings in Vectrus by 173.7% in the 2nd quarter. Bank of Montreal Can now owns 1,601 shares of the business services provider’s stock worth $65,000 after purchasing an additional 1,016 shares in the last quarter. James Investment Research Inc. lifted its holdings in Vectrus by 4.5% in the 2nd quarter. James Investment Research Inc. now owns 25,435 shares of the business services provider’s stock worth $1,032,000 after purchasing an additional 1,105 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Vectrus by 13.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 13,666 shares of the business services provider’s stock worth $554,000 after purchasing an additional 1,579 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Vectrus by 348.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,334 shares of the business services provider’s stock worth $62,000 after purchasing an additional 1,813 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Vectrus by 30.1% in the 4th quarter. Bank of America Corp DE now owns 12,060 shares of the business services provider’s stock worth $260,000 after purchasing an additional 2,791 shares in the last quarter. 86.87% of the stock is currently owned by institutional investors.

About Vectrus

Vectrus, Inc provides facility and logistics, and information technology and network communication services to the U.S. government worldwide. The company offers facility and logistics services, such as airfield management, ammunition management, civil engineering, communications, emergency services, life support activities, public works, security, transportation operations, warehouse management and distribution, and equipment maintenance, repair, and services for U.S.

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