StockNews.com Initiates Coverage on Vector Group (NYSE:VGR)

Equities researchers at StockNews.com assumed coverage on shares of Vector Group (NYSE:VGR) in a research note issued to investors on Sunday. The brokerage set a “strong-buy” rating on the stock.

Separately, Barclays lifted their target price on Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th.

Vector Group Stock Performance

Shares of NYSE:VGR opened at $14.99 on Friday. Vector Group has a 52-week low of $9.27 and a 52-week high of $15.53. The business’s 50 day simple moving average is $14.97 and its two-hundred day simple moving average is $12.67. The firm has a market cap of $2.36 billion, a P/E ratio of 12.92 and a beta of 1.04.

Vector Group (NYSE:VGR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. Vector Group had a net margin of 14.05% and a negative return on equity of 26.96%. The business had revenue of $371.91 million during the quarter, compared to the consensus estimate of $362.90 million. On average, equities analysts forecast that Vector Group will post 1.22 earnings per share for the current fiscal year.

Institutional Trading of Vector Group

A number of hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new stake in shares of Vector Group during the 2nd quarter worth $59,000. ORG Partners LLC increased its stake in shares of Vector Group by 252.3% during the 2nd quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock worth $66,000 after purchasing an additional 4,325 shares during the last quarter. Quarry LP raised its holdings in shares of Vector Group by 112.6% in the 2nd quarter. Quarry LP now owns 9,648 shares of the company’s stock worth $102,000 after purchasing an additional 5,110 shares during the period. Somerset Trust Co purchased a new position in Vector Group in the second quarter valued at approximately $110,000. Finally, Rothschild Investment LLC purchased a new stake in Vector Group in the second quarter worth $116,000. 64.09% of the stock is currently owned by institutional investors.

Vector Group Company Profile

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20’s, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.