Vishay Precision Group (NYSE:VPG) Shares Down 6.4% – Here’s What Happened

Vishay Precision Group, Inc. (NYSE:VPG) shares dropped 6.4% during mid-day trading on Friday . The company traded as low as $122.83 and last traded at $125.4350. Approximately 279,643 shares traded hands during trading, a decline of 29% from the average session volume of 394,757 shares. The stock had previously closed at $134.02.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VPG. Lake Street Capital raised their price target on shares of Vishay Precision Group from $54.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. B. Riley Financial boosted their price objective on shares of Vishay Precision Group from $63.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Vishay Precision Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Wall Street Zen raised shares of Vishay Precision Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded Vishay Precision Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Vishay Precision Group presently has a consensus rating of “Buy” and a consensus price target of $83.67.

Vishay Precision Group Stock Performance

The company has a quick ratio of 2.97, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $100.78 and a 200 day moving average price of $64.03. The stock has a market cap of $1.65 billion, a PE ratio of 278.63, a price-to-earnings-growth ratio of 6.84 and a beta of 1.46.

Vishay Precision Group (NYSE:VPG) last released its quarterly earnings data on Tuesday, May 12th. The scientific and technical instruments company reported $0.07 earnings per share for the quarter. Vishay Precision Group had a net margin of 1.85% and a return on equity of 2.28%. The company had revenue of $84.35 million during the quarter, compared to analyst estimates of $77.08 million. As a group, research analysts forecast that Vishay Precision Group, Inc. will post 0.97 earnings per share for the current year.

Hedge Funds Weigh In On Vishay Precision Group

A number of hedge funds and other institutional investors have recently modified their holdings of VPG. Strs Ohio purchased a new position in Vishay Precision Group during the first quarter valued at approximately $39,000. Farther Finance Advisors LLC raised its stake in Vishay Precision Group by 1,180.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,024 shares of the scientific and technical instruments company’s stock worth $39,000 after buying an additional 944 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Vishay Precision Group by 826.7% during the third quarter. Russell Investments Group Ltd. now owns 1,112 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 992 shares during the period. Kestra Advisory Services LLC purchased a new stake in Vishay Precision Group during the fourth quarter worth $51,000. Finally, Optiver Holding B.V. boosted its position in Vishay Precision Group by 1,195.3% during the 1st quarter. Optiver Holding B.V. now owns 1,373 shares of the scientific and technical instruments company’s stock valued at $60,000 after acquiring an additional 1,267 shares in the last quarter. 87.61% of the stock is currently owned by institutional investors.

About Vishay Precision Group

Vishay Precision Group (NYSE: VPG) specializes in the design, manufacture and calibration of precision sensors, instrumentation and measurement systems used in a broad range of applications. Its product portfolio includes load cells, tension links, weighing modules, torque transducers, digital indicators and data acquisition systems. These solutions serve critical requirements for accuracy, reliability and repeatability in sectors such as industrial automation, test and measurement, medical devices, food and beverage processing, aerospace and defense.

The company traces its roots to the sensor and measurement division of Vishay Intertechnology, Inc, from which it was spun off as an independent public company in March 2016.