V2X (NYSE:VVX) Hits New 52-Week High Following Better-Than-Expected Earnings

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

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

Wall Street Analysts Forecast Growth

VVX has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price target on shares of V2X in a research note on Wednesday, August 7th. Robert W. Baird assumed coverage on shares of V2X in a research report on Friday, October 11th. They issued an “outperform” rating and a $75.00 price objective on the stock. Finally, Baird R W raised V2X to a “strong-buy” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $62.20.

Insider Buying and Selling at V2X

In other V2X news, Director Eric M. Pillmore acquired 3,125 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, for a total transaction of $150,000.00. Following the completion of the acquisition, the director now owns 41,516 shares of the company’s stock, valued at approximately $1,992,768. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Eric M. Pillmore bought 3,125 shares of the stock in a transaction that occurred on 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 directly owns 41,516 shares of the company’s stock, valued at $1,992,768. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO William Boyd Noon bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $48.00 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief accounting officer now directly owns 10,931 shares of the company’s stock, valued at approximately $524,688. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 11,936 shares of company stock worth $572,928 in the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On V2X

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

V2X Price Performance

The firm has a market cap of $1.90 billion, a PE ratio of -154.78 and a beta of 0.57. The company has a 50 day moving average price of $57.29 and a 200 day moving average price of $51.69. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.15.

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.