Visteon (NASDAQ:VC) Hits New 1-Year High Following Analyst Upgrade

Visteon Corporation (NASDAQ:VC)’s share price reached a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $90.00 to $95.00. Morgan Stanley currently has an equal weight rating on the stock. Visteon traded as high as $118.16 and last traded at $117.68, with a volume of 90574 shares changing hands. The stock had previously closed at $113.42.

A number of other research firms also recently commented on VC. Barclays raised their target price on Visteon from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. Wells Fargo & Company raised their target price on Visteon from $106.00 to $129.00 and gave the company an “overweight” rating in a report on Friday, July 25th. UBS Group reissued a “buy” rating and issued a $146.00 target price (up previously from $142.00) on shares of Visteon in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on Visteon from $120.00 to $131.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Wolfe Research upgraded Visteon from a “peer perform” rating to an “outperform” rating and set a $123.00 price target for the company in a research report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.00.

Insider Transactions at Visteon

In related news, SVP Joao Paulo Ribeiro sold 710 shares of Visteon stock in a transaction dated 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 sale, the senior vice president owned 6,698 shares in the company, valued at approximately $770,872.82. This trade represents a 9.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert R. Vallance sold 2,000 shares of Visteon stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total value of $200,300.00. Following the sale, the senior vice president owned 20,838 shares of the company’s stock, valued at approximately $2,086,925.70. This represents a 8.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Visteon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VC. American Century Companies Inc. increased its position in Visteon by 28.6% during the 2nd 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. Pacer Advisors Inc. increased its position in Visteon by 2,402.0% during the 1st quarter. Pacer Advisors Inc. now owns 271,738 shares of the company’s stock worth $21,092,000 after purchasing an additional 260,877 shares in the last quarter. New Vernon Capital Holdings II LLC purchased a new stake in Visteon in the 1st quarter valued at about $17,068,000. Nuveen LLC purchased a new stake in Visteon in the 1st quarter valued at about $15,612,000. Finally, Walleye Capital LLC grew its holdings in Visteon by 2,881.5% in the 1st quarter. Walleye Capital LLC now owns 164,102 shares of the company’s stock valued at $12,738,000 after buying an additional 158,598 shares during the period. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Stock Up 4.8%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.87. The company has a market cap of $3.24 billion, a PE ratio of 11.34, a PEG ratio of 4.50 and a beta of 1.22. The firm has a fifty day simple moving average of $102.56 and a 200 day simple moving average of $88.63.

Visteon (NASDAQ:VC) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.04 by $0.35. The company had revenue of $969.00 million during the quarter, compared to analysts’ expectations of $943.12 million. Visteon had a return on equity of 23.22% and a net margin of 7.61%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 EPS. Equities research analysts predict that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be issued a $0.275 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.10 annualized dividend and a yield of 0.9%.

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.