Vector Group (NYSE:VGR) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Vector Group (NYSE:VGR) in a research report issued on Tuesday. The firm set a “buy” rating on the stock.

Separately, Barclays increased their target price on shares of 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

NYSE:VGR opened at $14.91 on Tuesday. The firm has a market cap of $2.35 billion, a P/E ratio of 12.85 and a beta of 1.04. The firm has a 50-day simple moving average of $13.90 and a 200-day simple moving average of $11.81. Vector Group has a one year low of $9.27 and a one year high of $15.53.

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

Institutional Investors Weigh In On Vector Group

A number of hedge funds and other institutional investors have recently modified their holdings of VGR. Point72 DIFC Ltd lifted its position in shares of Vector Group by 48.9% during the 2nd quarter. Point72 DIFC Ltd now owns 13,705 shares of the company’s stock worth $145,000 after buying an additional 4,498 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Vector Group during the second quarter worth approximately $193,000. Point72 Asset Management L.P. acquired a new stake in shares of Vector Group during the second quarter worth $693,000. Quarry LP boosted its holdings in shares of Vector Group by 112.6% in the second quarter. Quarry LP now owns 9,648 shares of the company’s stock valued at $102,000 after acquiring an additional 5,110 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of Vector Group by 72.9% during the 2nd quarter. Algert Global LLC now owns 691,014 shares of the company’s stock worth $7,304,000 after buying an additional 291,404 shares in the last quarter. 64.09% of the stock is currently owned by institutional investors and hedge funds.

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.