Berenberg Bank Cuts Vitec Group (LON:VTC) Price Target to GBX 1,050

Vitec Group (LON:VTC) had its target price cut by Berenberg Bank from GBX 1,225 ($16.01) to GBX 1,050 ($13.72) in a research report released on Monday morning, Digital Look reports. They currently have a hold rating on the stock.

Several other equities analysts have also recently weighed in on VTC. Peel Hunt reaffirmed a buy rating on shares of Vitec Group in a research note on Thursday, August 8th. Shore Capital reaffirmed a buy rating on shares of Vitec Group in a research note on Thursday, August 8th.

Shares of VTC stock opened at GBX 1,100 ($14.37) on Monday. The company has a debt-to-equity ratio of 60.69, a quick ratio of 1.00 and a current ratio of 2.03. Vitec Group has a 1 year low of GBX 1,025 ($13.39) and a 1 year high of GBX 1,430 ($18.69). The company’s fifty day simple moving average is GBX 1,096.08. The company has a market cap of $498.17 million and a P/E ratio of 14.55.

The business also recently announced a dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, September 19th will be issued a GBX 12.30 ($0.16) dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a yield of 1.1%. Vitec Group’s dividend payout ratio (DPR) is currently 0.49%.

In other Vitec Group news, insider Ian P. McHoul purchased 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of GBX 1,118 ($14.61) per share, with a total value of £55,900 ($73,043.25). Also, insider Richard Tyson purchased 2,654 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of GBX 1,124 ($14.69) per share, for a total transaction of £29,830.96 ($38,979.43). Over the last 90 days, insiders purchased 12,654 shares of company stock valued at $14,253,096.

About Vitec Group

The Vitec Group plc designs, manufactures, and distributes products and services that enable end users to capture and share exceptional images for the broadcast, cinematic, video, and photographic applications worldwide. It operates through three divisions: Imaging Solutions, Production Solutions, and Creative Solutions.

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