Visteon (NASDAQ:VC) Upgraded by Wells Fargo & Company to Equal Weight

Visteon (NASDAQ:VC) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a report issued on Friday, MarketBeat reports. The firm currently has a $108.00 price target on the stock, up from their prior price target of $106.00. Wells Fargo & Company‘s target price would indicate a potential downside of 3.73% from the company’s previous close.

A number of other brokerages have also issued reports on VC. Royal Bank of Canada reduced their price target on Visteon from $188.00 to $146.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Wolfe Research reissued a “peer perform” rating on shares of Visteon in a research note on Thursday, January 4th. JPMorgan Chase & Co. dropped their price objective on Visteon from $146.00 to $145.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Guggenheim dropped their price objective on Visteon from $136.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, UBS Group raised Visteon from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $145.00 in a research note on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.36.

Visteon Trading Up 2.3 %

Shares of VC stock opened at $112.19 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.42 and a current ratio of 1.74. Visteon has a 1 year low of $105.19 and a 1 year high of $159.87. The stock has a fifty day moving average of $113.58 and a two-hundred day moving average of $118.35. The firm has a market capitalization of $3.08 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 0.49 and a beta of 1.65.

Visteon (NASDAQ:VC) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.14). Visteon had a return on equity of 53.49% and a net margin of 12.60%. The business had revenue of $933.00 million for the quarter, compared to analyst estimates of $971.45 million. During the same quarter last year, the firm posted $1.25 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. As a group, research analysts expect that Visteon will post 8.68 EPS for the current year.

Institutional Investors Weigh In On Visteon

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tectonic Advisors LLC acquired a new position in Visteon during the fourth quarter valued at $3,187,000. Westfield Capital Management Co. LP raised its position in Visteon by 11.0% during the third quarter. Westfield Capital Management Co. LP now owns 664,137 shares of the company’s stock valued at $91,697,000 after buying an additional 65,593 shares during the period. Allspring Global Investments Holdings LLC raised its position in Visteon by 1,842.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 27,444 shares of the company’s stock valued at $3,789,000 after buying an additional 26,031 shares during the period. Comerica Bank acquired a new position in Visteon during the third quarter valued at $12,222,000. Finally, AQR Capital Management LLC raised its position in Visteon by 40.4% during the third quarter. AQR Capital Management LLC now owns 66,670 shares of the company’s stock valued at $9,205,000 after buying an additional 19,196 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

Visteon Company Profile

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