Morgan Stanley Issues Positive Forecast for Visteon (NASDAQ:VC) Stock Price

Visteon (NASDAQ:VC) had its price target lifted by Morgan Stanley from $90.00 to $95.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Visteon in a report on Friday, July 25th. Guggenheim dropped their price target on Visteon from $108.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company upped their price target on Visteon from $106.00 to $129.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. UBS Group reissued a “buy” rating and set a $146.00 price target (up from $142.00) on shares of Visteon in a research report on Friday, July 25th. Finally, Robert W. Baird raised Visteon from a “neutral” rating to an “outperform” rating and upped their price target for the company from $96.00 to $125.00 in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.00.

Visteon Stock Performance

Shares of VC opened at $118.91 on Tuesday. The business’s 50 day moving average is $102.56 and its two-hundred day moving average is $88.63. Visteon has a 52-week low of $65.10 and a 52-week high of $119.11. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 4.50 and a beta of 1.22. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 0.19.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.35. Visteon had a return on equity of 23.22% and a net margin of 7.61%. The company had revenue of $969.00 million for the quarter, compared to analyst estimates of $943.12 million. During the same period in the prior year, the company posted $2.54 EPS. Visteon’s quarterly revenue was down 4.4% on a year-over-year basis. Analysts forecast that Visteon will post 8.42 EPS for the current fiscal year.

Visteon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 18th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 18th.

Insiders Place Their Bets

In related news, SVP Joao Paulo Ribeiro sold 710 shares of the company’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $115.09, for a total transaction of $81,713.90. Following the completion of the transaction, the senior vice president directly owned 6,698 shares in the company, valued at $770,872.82. This represents a 9.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert R. Vallance sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total value of $200,300.00. Following the transaction, the senior vice president owned 20,838 shares of the company’s stock, valued at approximately $2,086,925.70. The trade was a 8.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Visteon in the second quarter worth $693,000. Covalis Capital LLP grew its stake in shares of Visteon by 117.1% in the second quarter. Covalis Capital LLP now owns 268,613 shares of the company’s stock worth $25,062,000 after purchasing an additional 144,899 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Visteon by 28.6% in the second quarter. American Century Companies Inc. now owns 2,222,551 shares of the company’s stock worth $207,364,000 after purchasing an additional 494,820 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Visteon by 5.5% in the second quarter. Rhumbline Advisers now owns 93,276 shares of the company’s stock worth $8,703,000 after purchasing an additional 4,877 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Visteon in the second quarter worth $10,948,000. Institutional investors own 99.71% of the company’s stock.

About Visteon

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.