Visteon Corporation (NASDAQ:VC) Receives $116.00 Consensus Price Target from Brokerages

Visteon Corporation (NASDAQ:VC) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $116.00.

A number of brokerages have commented on VC. Wells Fargo & Company increased 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. Deutsche Bank Aktiengesellschaft raised their price objective on Visteon from $120.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Robert W. Baird raised Visteon from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $96.00 to $125.00 in a research report on Friday, July 11th. The Goldman Sachs Group reissued a “buy” rating on shares of Visteon in a report on Friday, July 25th. Finally, Wall Street Zen lowered Visteon from a “buy” rating to a “hold” rating in a report on Saturday.

Visteon Stock Down 0.5%

VC opened at $121.01 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $104.90 and a two-hundred day moving average price of $89.40. Visteon has a 52 week low of $65.10 and a 52 week high of $123.78. The company has a market cap of $3.30 billion, a PE ratio of 11.54, a P/E/G ratio of 4.68 and a beta of 1.22.

Visteon (NASDAQ:VC) last issued its earnings results on Thursday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.35. The business had revenue of $969.00 million during the quarter, compared to the consensus estimate of $943.12 million. Visteon had a return on equity of 23.22% and a net margin of 7.61%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 EPS. As a group, research analysts anticipate that Visteon will post 8.42 EPS for the current year.

Visteon Dividend Announcement

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

Insider Buying and Selling

In other news, SVP Robert R. Vallance sold 2,000 shares of Visteon stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $120.00, for a total transaction of $240,000.00. Following the transaction, the senior vice president directly owned 18,838 shares of the company’s stock, valued at $2,260,560. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joao Paulo Ribeiro sold 710 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $115.09, for a total transaction of $81,713.90. Following the sale, the senior vice president owned 6,698 shares in the company, valued at approximately $770,872.82. The trade was a 9.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,710 shares of company stock valued at $522,014. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Visteon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VC. State of Tennessee Department of Treasury increased its stake in shares of Visteon by 31.1% during the 2nd quarter. State of Tennessee Department of Treasury now owns 12,636 shares of the company’s stock worth $1,179,000 after purchasing an additional 3,000 shares during the last quarter. Vident Advisory LLC bought a new position in Visteon in the 2nd quarter valued at approximately $633,000. Tidal Investments LLC bought a new position in shares of Visteon during the second quarter valued at $748,000. Orion Porfolio Solutions LLC increased its position in shares of Visteon by 2.5% during the second quarter. Orion Porfolio Solutions LLC now owns 8,044 shares of the company’s stock worth $751,000 after buying an additional 198 shares during the period. Finally, Lazard Asset Management LLC increased its position in shares of Visteon by 48.7% during the second quarter. Lazard Asset Management LLC now owns 43,245 shares of the company’s stock worth $4,034,000 after buying an additional 14,159 shares during the period. 99.71% of the stock is currently owned by institutional investors and hedge funds.

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.