Visteon (NASDAQ:VC) Upgraded to “Outperform” at Wolfe Research

Visteon (NASDAQ:VC) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $123.00 price objective on the stock. Wolfe Research’s target price suggests a potential upside of 19.02% from the stock’s previous close.

A number of other research firms have also issued reports on VC. Wells Fargo & Company increased their price target on shares of Visteon from $101.00 to $106.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group reiterated a “neutral” rating and issued a $76.00 target price (down previously from $114.00) on shares of Visteon in a research report on Thursday, April 10th. Robert W. Baird increased their target price on shares of Visteon from $76.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Visteon from $90.00 to $97.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Finally, Morgan Stanley cut their price objective on Visteon from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.69.

Visteon Price Performance

VC opened at $103.34 on Wednesday. The stock has a fifty day moving average of $86.98 and a 200-day moving average of $83.78. The firm has a market capitalization of $2.82 billion, a P/E ratio of 9.69 and a beta of 1.21. Visteon has a 12-month low of $65.10 and a 12-month high of $117.94. The company has a quick ratio of 1.50, a current ratio of 1.83 and a debt-to-equity ratio of 0.21.

Visteon (NASDAQ:VC) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.70. The firm had revenue of $934.00 million during the quarter, compared to the consensus estimate of $906.38 million. Visteon had a return on equity of 24.95% and a net margin of 7.68%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. Equities analysts forecast that Visteon will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at Visteon

In other news, SVP Robert R. Vallance sold 2,000 shares of Visteon stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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 $2,086,925.70. This trade represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Visteon

A number of institutional investors have recently made changes to their positions in VC. Bank of New York Mellon Corp increased its stake in shares of Visteon by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 640,856 shares of the company’s stock worth $56,857,000 after purchasing an additional 12,900 shares during the period. Proficio Capital Partners LLC bought a new position in Visteon in the 4th quarter worth approximately $2,645,000. US Bancorp DE increased its position in Visteon by 40.5% in the 4th quarter. US Bancorp DE now owns 7,872 shares of the company’s stock worth $698,000 after buying an additional 2,269 shares during the period. Charles Schwab Investment Management Inc. increased its position in Visteon by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,609 shares of the company’s stock worth $32,526,000 after buying an additional 25,319 shares during the period. Finally, M&T Bank Corp increased its position in Visteon by 45.8% in the 4th quarter. M&T Bank Corp now owns 3,232 shares of the company’s stock worth $287,000 after buying an additional 1,015 shares during the period. 99.71% of the stock is currently owned by 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.