Zacks Investment Research upgraded shares of Visteon (NYSE:VC) from a hold rating to a buy rating in a research report sent to investors on Wednesday, December 27th. The firm currently has $140.00 price target on the auto parts company’s stock.
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. “
Other analysts have also issued research reports about the company. B. Riley restated a buy rating on shares of Visteon in a report on Wednesday, November 1st. Robert W. Baird reiterated a buy rating and set a $143.00 price objective on shares of Visteon in a report on Tuesday, October 17th. FBR & Co increased their price objective on Visteon from $120.00 to $140.00 and gave the stock a buy rating in a report on Friday, October 27th. Barclays increased their price objective on Visteon from $107.00 to $112.00 and gave the stock an equal weight rating in a report on Friday, October 27th. Finally, Royal Bank of Canada reiterated a hold rating and set a $115.00 price objective on shares of Visteon in a report on Tuesday, October 3rd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Visteon has a consensus rating of Buy and an average price target of $132.31.
Shares of Visteon (VC) opened at $138.03 on Wednesday. The stock has a market capitalization of $4,290.00, a price-to-earnings ratio of 26.39, a PEG ratio of 1.34 and a beta of 0.86. Visteon has a 1-year low of $86.10 and a 1-year high of $140.64. The company has a quick ratio of 1.76, a current ratio of 1.97 and a debt-to-equity ratio of 0.47.
Visteon (NYSE:VC) last released its earnings results on Thursday, October 26th. The auto parts company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.17. The company had revenue of $765.00 million during the quarter, compared to analyst estimates of $761.95 million. Visteon had a return on equity of 29.13% and a net margin of 4.83%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. sell-side analysts expect that Visteon will post 6.23 EPS for the current fiscal year.
In other Visteon news, CEO Sachin Lawande sold 5,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $130.94, for a total transaction of $654,700.00. Following the transaction, the chief executive officer now directly owns 8,595 shares of the company’s stock, valued at $1,125,429.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 17,004 shares of company stock worth $2,180,621 over the last three months. Company insiders own 0.19% of the company’s stock.
Several large investors have recently modified their holdings of the company. Neuberger Berman Group LLC grew its position in shares of Visteon by 74.4% in the third quarter. Neuberger Berman Group LLC now owns 85,783 shares of the auto parts company’s stock valued at $10,617,000 after purchasing an additional 36,583 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Visteon by 3.7% in the third quarter. California Public Employees Retirement System now owns 126,068 shares of the auto parts company’s stock valued at $15,603,000 after purchasing an additional 4,468 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Visteon by 820.3% in the third quarter. Cubist Systematic Strategies LLC now owns 19,373 shares of the auto parts company’s stock valued at $2,398,000 after purchasing an additional 17,268 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Visteon by 7.2% in the third quarter. Janus Henderson Group PLC now owns 825,572 shares of the auto parts company’s stock valued at $102,181,000 after purchasing an additional 55,325 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Visteon in the third quarter valued at about $458,000.
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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