V2X (NYSE:VVX) Reaches New 1-Year High on Strong Earnings

V2X, Inc. (NYSE:VVX - Get Free Report) shares reached a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $66.00 and last traded at $63.66, with a volume of 31196 shares. The stock had previously closed at $61.91.

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

Analysts Set New Price Targets

A number of research firms have weighed in on VVX. Raymond James upped their price target on shares of V2X from $60.00 to $72.00 and gave the stock a "strong-buy" rating in a research report on Tuesday. Robert W. Baird assumed coverage on shares of V2X in a report on Friday, October 11th. They issued an "outperform" rating and a $75.00 target price for the company. Baird R W raised V2X to a "strong-buy" rating in a report on Friday, October 11th. JMP Securities upped their price objective on V2X from $65.00 to $80.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $70.00 target price on shares of V2X in a research report on Tuesday. One equities research 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 stock. According to MarketBeat, V2X has an average rating of "Buy" and a consensus price target of $70.60.

Insider Buying and Selling at V2X

In other news, Director Eric M. Pillmore bought 3,125 shares of V2X stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $48.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Eric M. Pillmore purchased 3,125 shares of the business's stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $48.00 per share, for a total transaction of $150,000.00. Following the acquisition, the director now directly owns 41,516 shares of the company's stock, valued at $1,992,768. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeremy C. Wensinger acquired 6,250 shares of V2X stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $48.00 per share, for a total transaction of $300,000.00. Following the purchase, the chief executive officer now owns 6,250 shares in the company, valued at approximately $300,000. The disclosure for this purchase can be found here. Insiders purchased 11,936 shares of company stock valued at $572,928 in the last 90 days. Insiders own 1.10% of the company's stock.

Institutional Trading of V2X

Several hedge funds have recently made changes to their positions in VVX. Quest Partners LLC grew its position in V2X by 112.3% in the second quarter. Quest Partners LLC now owns 673 shares of the company's stock worth $32,000 after acquiring an additional 356 shares in the last quarter. US Bancorp DE lifted its stake in shares of 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 during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of V2X by 200.2% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,258 shares of the company's stock worth $60,000 after purchasing an additional 839 shares during the period. nVerses Capital LLC bought a new position in shares of V2X during the 3rd quarter valued at approximately $95,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in V2X during the 1st quarter valued at $142,000. 95.18% of the stock is currently owned by hedge funds and other institutional investors.

V2X Stock Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50-day moving average of $57.42 and a 200-day moving average of $51.79. The company has a market capitalization of $1.95 billion, a P/E ratio of -156.70 and a beta of 0.57.

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.