Morgan Stanley Cuts Visteon (NASDAQ:VC) Price Target to $90.00

Visteon (NASDAQ:VC) had its target price decreased by Morgan Stanley from $95.00 to $90.00 in a report released on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on VC. Wells Fargo & Company raised their price target on Visteon from $96.00 to $101.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group reissued a “neutral” rating and set a $76.00 price target (down from $114.00) on shares of Visteon in a research note on Thursday, April 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $74.00 price target (down from $103.00) on shares of Visteon in a research note on Thursday, April 10th. Barclays reissued an “equal weight” rating and set a $82.00 price target (down from $110.00) on shares of Visteon in a research note on Tuesday, April 15th. Finally, Guggenheim decreased their price target on Visteon from $108.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $96.25.

Visteon Stock Performance

NASDAQ:VC opened at $85.17 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.47 and a debt-to-equity ratio of 0.23. Visteon has a 12-month low of $65.10 and a 12-month high of $117.94. The stock has a 50-day moving average price of $78.08 and a 200 day moving average price of $84.46. The stock has a market capitalization of $2.32 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.42 and a beta of 1.23.

Visteon (NASDAQ:VC) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.70. The business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $906.38 million. Visteon had a return on equity of 24.58% and a net margin of 7.09%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS. Equities research analysts forecast that Visteon will post 8.42 EPS for the current fiscal year.

Institutional Trading of Visteon

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in shares of Visteon by 58.8% in the 4th quarter. American Century Companies Inc. now owns 1,448,017 shares of the company’s stock valued at $128,468,000 after purchasing an additional 536,073 shares during the last quarter. Norges Bank purchased a new stake in shares of Visteon in the 4th quarter valued at about $29,468,000. Pacer Advisors Inc. lifted its holdings in shares of Visteon by 2,402.0% in the 1st quarter. Pacer Advisors Inc. now owns 271,738 shares of the company’s stock valued at $21,092,000 after purchasing an additional 260,877 shares during the last quarter. New Vernon Capital Holdings II LLC purchased a new stake in shares of Visteon in the 1st quarter valued at about $17,068,000. Finally, Nuveen LLC purchased a new stake in shares of Visteon in the 1st quarter valued at about $15,612,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

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.