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

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Vitec Group (LON:VTC) had its target price trimmed by Berenberg Bank from GBX 1,225 ($16.01) to GBX 1,050 ($13.72) in a report issued on Monday morning, Digital Look reports. The firm currently has a hold rating on the stock.

VTC has been the topic of a number of other research reports. Peel Hunt reissued a buy rating on shares of Vitec Group in a research note on Thursday, August 8th. Shore Capital reissued a buy rating on shares of Vitec Group in a research note on Thursday, August 8th.

Shares of LON:VTC opened at GBX 1,100 ($14.37) on Monday. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 60.69. The company has a market capitalization of $498.17 million and a PE ratio of 14.55. The company has a fifty day moving average of GBX 1,096.08. Vitec Group has a fifty-two week low of GBX 1,025 ($13.39) and a fifty-two week high of GBX 1,430 ($18.69).

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

In other Vitec Group news, insider Richard Tyson acquired 2,654 shares of Vitec Group stock in a transaction on Friday, August 9th. The shares were bought at an average price of GBX 1,124 ($14.69) per share, with a total value of £29,830.96 ($38,979.43). Also, insider Ian P. McHoul acquired 5,000 shares of Vitec Group stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of GBX 1,136 ($14.84) per share, for a total transaction of £56,800 ($74,219.26). In the last three months, insiders acquired 12,654 shares of company stock worth $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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