Analysts Set VIZIO Holding Corp. (NYSE:VZIO) Price Target at $29.56

Shares of VIZIO Holding Corp. (NYSE:VZIO) have been assigned an average rating of “Buy” from the eleven research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $29.56.

Several research analysts have commented on VZIO shares. Stephens started coverage on VIZIO in a report on Monday, September 13th. They set an “overweight” rating and a $27.00 target price on the stock. Zacks Investment Research downgraded VIZIO from a “hold” rating to a “sell” rating in a research note on Friday, October 8th. Cannonball Research started coverage on VIZIO in a research note on Monday, September 20th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley started coverage on VIZIO in a research note on Tuesday, September 14th. They issued an “overweight” rating and a $27.00 price objective on the stock.

In other VIZIO news, major shareholder V-Tw Holdings, Llc sold 1,743 shares of the business’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $20.10, for a total transaction of $35,034.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO William T. Baxter sold 11,486 shares of the business’s stock in a transaction that occurred on Thursday, October 7th. The stock was sold at an average price of $21.34, for a total value of $245,111.24. The disclosure for this sale can be found here. Insiders have sold a total of 824,987 shares of company stock valued at $17,094,860 over the last three months.

Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of VIZIO by 2.0% in the second quarter. Victory Capital Management Inc. now owns 30,611 shares of the company’s stock valued at $827,000 after acquiring an additional 611 shares in the last quarter. First Horizon Advisors Inc. bought a new position in shares of VIZIO in the first quarter valued at approximately $35,000. Sandy Spring Bank bought a new position in shares of VIZIO in the second quarter valued at approximately $54,000. Axiom Investment Management LLC lifted its stake in VIZIO by 40.3% in the second quarter. Axiom Investment Management LLC now owns 12,800 shares of the company’s stock valued at $347,000 after purchasing an additional 3,676 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in VIZIO by 0.9% in the second quarter. Point72 Asset Management L.P. now owns 696,564 shares of the company’s stock valued at $18,814,000 after purchasing an additional 6,201 shares during the last quarter. 6.70% of the stock is owned by institutional investors.

Shares of NYSE VZIO traded down $0.16 during mid-day trading on Monday, hitting $19.75. 554,051 shares of the stock traded hands, compared to its average volume of 904,401. VIZIO has a twelve month low of $17.25 and a twelve month high of $28.80. The firm has a 50 day simple moving average of $20.03 and a two-hundred day simple moving average of $22.54.

VIZIO (NYSE:VZIO) last announced its earnings results on Wednesday, August 4th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). The business had revenue of $401.16 million during the quarter, compared to analysts’ expectations of $390.02 million. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, research analysts anticipate that VIZIO will post -0.25 earnings per share for the current fiscal year.

About VIZIO

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated home entertainment solution, and data intelligence and services products through Inscape.

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Analyst Recommendations for VIZIO (NYSE:VZIO)

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