Visteon Corporation (NYSE:VC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Products offered by the Company includes climate systems, powertrain control systems, engine induction systems, cockpit modules, front and rear lighting systems, engine management systems, and electronic products comprising integrated solutions, audio and infotainment, analog/digital instrument cluster, displays, control panel. Markets served by the Company include original equipment manufacturers and automotive aftermarket. Visteon Corp. is headquartered in Michigan, USA. “
A number of other equities analysts also recently issued reports on VC. Jefferies Group LLC began coverage on shares of Visteon Corporation in a report on Thursday, September 28th. They set a “hold” rating and a $135.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $115.00 price objective on shares of Visteon Corporation in a report on Tuesday, October 3rd. Barclays PLC reaffirmed an “equal weight” rating and set a $98.00 price objective (up from $97.00) on shares of Visteon Corporation in a report on Wednesday, August 2nd. BidaskClub downgraded shares of Visteon Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, BMO Capital Markets raised shares of Visteon Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $104.00 to $115.00 in a report on Friday, September 22nd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $115.62.
Shares of Visteon Corporation (NYSE VC) opened at 124.51 on Thursday. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 30.10 and a beta of 0.85. The firm’s 50-day moving average is $120.07 and its 200 day moving average is $106.92. Visteon Corporation has a 52-week low of $64.95 and a 52-week high of $128.39.
Visteon Corporation (NYSE:VC) last posted its quarterly earnings data on Thursday, July 27th. The auto parts company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.14. The firm had revenue of $774.00 million for the quarter, compared to the consensus estimate of $770.96 million. Visteon Corporation had a net margin of 4.35% and a return on equity of 27.56%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. On average, equities research analysts anticipate that Visteon Corporation will post $6.11 earnings per share for the current year.
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In related news, insider Sunil K. Bilolikar sold 2,394 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.93, for a total value of $265,566.42. Following the sale, the insider now directly owns 300 shares in the company, valued at approximately $33,279. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew M. Cole sold 1,359 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $114.19, for a total value of $155,184.21. Following the completion of the sale, the insider now owns 693 shares in the company, valued at $79,133.67. The disclosure for this sale can be found here. Insiders sold a total of 5,371 shares of company stock worth $616,016 over the last three months. 0.19% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Visteon Corporation by 2,531.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,000 shares of the auto parts company’s stock valued at $102,000 after acquiring an additional 962 shares during the period. The Manufacturers Life Insurance Company raised its stake in Visteon Corporation by 6.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock valued at $106,000 after acquiring an additional 61 shares during the period. Quantbot Technologies LP raised its stake in Visteon Corporation by 2.8% in the 2nd quarter. Quantbot Technologies LP now owns 1,089 shares of the auto parts company’s stock valued at $111,000 after acquiring an additional 30 shares during the period. BNP Paribas Arbitrage SA raised its stake in Visteon Corporation by 64.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,340 shares of the auto parts company’s stock valued at $137,000 after acquiring an additional 526 shares during the period. Finally, Riverhead Capital Management LLC bought a new stake in Visteon Corporation in the 2nd quarter valued at about $153,000.
About Visteon Corporation
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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