Visteon (NASDAQ:VC) Price Target Cut to $124.00 by Analysts at Wells Fargo & Company

Visteon (NASDAQ:VC) had its target price reduced by Wells Fargo & Company from $125.00 to $124.00 in a report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft set a $117.00 price target on Visteon in a research report on Friday, February 20th. JPMorgan Chase & Co. lowered their price target on Visteon from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, March 9th. Robert W. Baird cut their price objective on shares of Visteon from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. The Goldman Sachs Group set a $120.00 price objective on shares of Visteon in a report on Thursday, January 15th. Finally, Royal Bank Of Canada decreased their target price on shares of Visteon from $140.00 to $127.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.25.

Visteon Price Performance

NASDAQ VC opened at $91.11 on Tuesday. The company has a 50-day moving average price of $93.76 and a two-hundred day moving average price of $102.27. Visteon has a 52 week low of $65.10 and a 52 week high of $129.10. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 1.04 and a beta of 1.15. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17.

Visteon (NASDAQ:VC) last released its quarterly earnings results on Thursday, February 19th. The company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.88. The company had revenue of $948.00 million for the quarter, compared to analysts’ expectations of $920.25 million. Visteon had a return on equity of 17.94% and a net margin of 6.93%.The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.44 earnings per share. Analysts forecast that Visteon will post 8.42 EPS for the current year.

Visteon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.375 per share. This is a boost from Visteon’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 2nd. This represents a $1.50 annualized dividend and a dividend yield of 1.6%. Visteon’s payout ratio is 15.91%.

Insider Activity at Visteon

In other news, CEO Sachin Lawande sold 49,453 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $93.44, for a total value of $4,620,888.32. Following the completion of the sale, the chief executive officer owned 175,527 shares in the company, valued at $16,401,242.88. This represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Amundi lifted its holdings in Visteon by 1.3% in the 2nd quarter. Amundi now owns 6,862 shares of the company’s stock valued at $706,000 after acquiring an additional 86 shares during the last quarter. Orion Porfolio Solutions LLC lifted its stake in Visteon by 1.2% during the third quarter. Orion Porfolio Solutions LLC now owns 8,141 shares of the company’s stock valued at $976,000 after purchasing an additional 97 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Visteon by 1.8% during the fourth quarter. Advisors Asset Management Inc. now owns 6,536 shares of the company’s stock valued at $622,000 after purchasing an additional 116 shares during the last quarter. UMB Bank n.a. boosted its holdings in Visteon by 32.1% during the fourth quarter. UMB Bank n.a. now owns 506 shares of the company’s stock worth $48,000 after buying an additional 123 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Visteon by 2.0% during the third quarter. Arizona State Retirement System now owns 8,047 shares of the company’s stock worth $965,000 after buying an additional 155 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

About Visteon

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.