Zacks Investment Research cut shares of VOXX International Corporation (NASDAQ:VOXX) from a hold rating to a strong sell rating in a research report report published on Tuesday.
According to Zacks, “VOXX International Corporation is engaged in marketing automobile sound, vehicle security, mobile video systems, and consumer electronics products. The Company markets its products under the RCA, Acoustic Research and TERK brands. VOXX International Corporation, formerly known as Audiovox Corporation, is headquartered in Hauppauge, New York. “
Separately, Cowen and Company reaffirmed a hold rating and set a $7.00 price target on shares of VOXX International Corporation in a report on Friday, July 14th.
Shares of VOXX International Corporation (NASDAQ:VOXX) remained flat at $6.85 during trading on Tuesday. The company had a trading volume of 23,442 shares. The company has a market capitalization of $165.50 million, a price-to-earnings ratio of 29.78 and a beta of 0.91. VOXX International Corporation has a 52 week low of $3.58 and a 52 week high of $9.00. The firm has a 50 day moving average price of $8.06 and a 200 day moving average price of $7.00.
VOXX International Corporation (NASDAQ:VOXX) last announced its quarterly earnings results on Tuesday, October 10th. The auto parts company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.73). The company had revenue of $113.50 million for the quarter, compared to the consensus estimate of $163.00 million. VOXX International Corporation had a net margin of 3.10% and a negative return on equity of 3.77%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. On average, equities research analysts forecast that VOXX International Corporation will post ($0.58) earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in VOXX. Voya Investment Management LLC acquired a new stake in VOXX International Corporation during the 2nd quarter worth approximately $102,000. GSA Capital Partners LLP acquired a new stake in VOXX International Corporation during the 2nd quarter worth approximately $125,000. UBS Group AG boosted its position in VOXX International Corporation by 45.9% during the 1st quarter. UBS Group AG now owns 24,853 shares of the auto parts company’s stock worth $129,000 after buying an additional 7,814 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in VOXX International Corporation during the 2nd quarter worth approximately $129,000. Finally, Bank of New York Mellon Corp boosted its position in VOXX International Corporation by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 27,847 shares of the auto parts company’s stock worth $144,000 after buying an additional 640 shares during the period. 59.04% of the stock is currently owned by institutional investors.
VOXX International Corporation Company Profile
VOXX International Corporation is an international manufacturer and distributor in the automotive, audio and consumer accessories industries. The Company’s segments include Automotive, Premium Audio and Consumer Accessories. The Automotive segment designs, manufactures, distributes and markets rear-seat entertainment devices, satellite radio products, remote start systems, digital television tuners, mobile antennas, mobile multimedia devices, car link-smartphone telematics application, collision avoidance systems and others.
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