Visteon (NASDAQ:VC) Lowered to Hold at Zacks Investment Research

Visteon (NASDAQ:VCGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Products offered by the Company includes climate systems, powertrain control systems, engine induction systems, cockpit modules, front and rear lighting systems, engine management systems, and electronic products comprising integrated solutions, audio and infotainment, analog/digital instrument cluster, displays, control panel. Markets served by the Company include original equipment manufacturers and automotive aftermarket. Visteon Corp. is headquartered in Michigan, USA. “

VC has been the topic of a number of other research reports. The Goldman Sachs Group dropped their target price on Visteon from $156.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, March 22nd. Barclays decreased their price target on Visteon from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, April 7th. Bank of America raised Visteon from an “underperform” rating to a “neutral” rating and increased their price target for the company from $122.00 to $140.00 in a research report on Wednesday, April 6th. Deutsche Bank Aktiengesellschaft decreased their price target on Visteon from $150.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Robert W. Baird raised their target price on Visteon from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $119.31.

Shares of NASDAQ:VC opened at $100.02 on Thursday. The business’s 50 day simple moving average is $106.44 and its two-hundred day simple moving average is $108.99. The firm has a market cap of $2.80 billion, a P/E ratio of 69.46 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.36 and a current ratio of 1.67. Visteon has a 52-week low of $91.59 and a 52-week high of $134.57.

Visteon (NASDAQ:VCGet Rating) last posted its earnings results on Thursday, February 17th. The company reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $1.58. Visteon had a return on equity of 11.42% and a net margin of 1.48%. The company had revenue of $786.00 million for the quarter, compared to analyst estimates of $661.23 million. During the same quarter last year, the company earned $1.06 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts forecast that Visteon will post 4.42 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Marathon Asset Mgmt Ltd bought a new stake in shares of Visteon in the 4th quarter valued at about $43,396,000. Balyasny Asset Management LLC increased its holdings in Visteon by 958.4% during the 3rd quarter. Balyasny Asset Management LLC now owns 306,160 shares of the company’s stock valued at $28,898,000 after purchasing an additional 277,234 shares during the period. Wellington Management Group LLP increased its holdings in Visteon by 19.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,555,379 shares of the company’s stock valued at $146,813,000 after purchasing an additional 256,689 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Visteon by 51.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 642,245 shares of the company’s stock valued at $60,622,000 after purchasing an additional 216,817 shares during the period. Finally, Norges Bank purchased a new position in shares of Visteon during the 4th quarter worth approximately $24,012,000.

About Visteon (Get Rating)

Visteon Corporation, an automotive technology company, engineers, designs, and manufactures automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters to 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as 3-D, active privacy, TrueColor enhancement, cameras, optics, haptic feedback, and light effects; and Phoenix, a display audio and embedded infotainment platform, as well as onboard artificial intelligence-based voice assistant with natural language understanding.

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