Visteon (NASDAQ:VC) Raised to “Outperform” at Wolfe Research

Visteon (NASDAQ:VC) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $123.00 price objective on the stock. Wolfe Research’s price target points to a potential upside of 19.02% from the stock’s current price.

VC has been the subject of a number of other research reports. Guggenheim lowered their price objective on Visteon from $108.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Barclays reissued an “equal weight” rating and set a $82.00 price target (down previously from $110.00) on shares of Visteon in a research report on Tuesday, April 15th. Robert W. Baird raised their price target on shares of Visteon from $76.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Morgan Stanley decreased their price objective on shares of Visteon from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Finally, Wells Fargo & Company raised their price objective on shares of Visteon from $101.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.69.

Visteon Stock Performance

Shares of VC stock opened at $103.34 on Wednesday. The company’s fifty day simple moving average is $86.98 and its 200-day simple moving average is $83.78. Visteon has a 52 week low of $65.10 and a 52 week high of $117.94. The company has a current ratio of 1.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.82 billion, a PE ratio of 9.69 and a beta of 1.21.

Visteon (NASDAQ:VC) last posted its earnings results on Thursday, April 24th. The company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.70. Visteon had a return on equity of 24.95% and a net margin of 7.68%. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $906.38 million. During the same quarter last year, the firm earned $1.61 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Visteon will post 8.42 EPS for the current year.

Insider Buying and Selling at Visteon

In other Visteon news, SVP Robert R. Vallance sold 2,000 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total transaction of $200,300.00. Following the completion of the transaction, the senior vice president directly owned 20,838 shares of the company’s stock, valued at approximately $2,086,925.70. This trade represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Visteon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Visteon by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 640,856 shares of the company’s stock valued at $56,857,000 after purchasing an additional 12,900 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Visteon during the fourth quarter valued at $2,645,000. US Bancorp DE lifted its holdings in shares of Visteon by 40.5% during the fourth quarter. US Bancorp DE now owns 7,872 shares of the company’s stock valued at $698,000 after purchasing an additional 2,269 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Visteon by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,609 shares of the company’s stock valued at $32,526,000 after buying an additional 25,319 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in Visteon by 45.8% during the fourth quarter. M&T Bank Corp now owns 3,232 shares of the company’s stock valued at $287,000 after buying an additional 1,015 shares in the last quarter. 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.