V2X (NYSE:VVX) Shares Gap Up Following Better-Than-Expected Earnings

V2X, Inc. (NYSE:VVX)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $42.05, but opened at $45.04. V2X shares last traded at $47.57, with a volume of 56,021 shares traded.

The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.14 by $0.19. V2X had a net margin of 0.22% and a return on equity of 13.49%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.10 billion.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VVX. Raymond James reissued an “outperform” rating and set a $65.00 price target (down from $72.00) on shares of V2X in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 target price (down from $70.00) on shares of V2X in a research note on Thursday, December 19th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of V2X in a research report on Friday, January 17th. The Goldman Sachs Group began coverage on shares of V2X in a research note on Thursday, December 12th. They set a “sell” rating and a $54.00 target price for the company. Finally, BTIG Research started coverage on shares of V2X in a research note on Monday, November 25th. They issued a “buy” rating and a $80.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, V2X presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Hedge Funds Weigh In On V2X

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new stake in V2X in the 4th quarter worth approximately $45,000. US Bancorp DE lifted its holdings in shares of V2X by 81.0% during the 3rd quarter. US Bancorp DE now owns 1,028 shares of the company’s stock worth $57,000 after acquiring an additional 460 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of V2X by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,482 shares of the company’s stock worth $71,000 after acquiring an additional 288 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in V2X by 51.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,382 shares of the company’s stock valued at $114,000 after purchasing an additional 814 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of V2X in the 4th quarter valued at $134,000. 95.18% of the stock is owned by institutional investors and hedge funds.

V2X Price Performance

The company has a market capitalization of $1.49 billion, a PE ratio of 168.95, a PEG ratio of 0.61 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average price is $49.13 and its 200-day moving average price is $54.58.

About V2X

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.