Visteon (VC) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Visteon (NYSE:VC) from a buy rating to a hold rating in a report issued 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. “

Several other analysts have also recently issued reports on the company. Citigroup decreased their price objective on Visteon from $128.00 to $126.00 and set a neutral rating on the stock in a report on Tuesday, May 8th. Longbow Research set a $160.00 price target on Visteon and gave the company a buy rating in a report on Monday, April 30th. Wells Fargo & Co decreased their price target on Visteon from $141.00 to $135.00 and set an outperform rating on the stock in a report on Tuesday, April 17th. Cowen started coverage on Visteon in a report on Monday, April 16th. They set an outperform rating and a $136.00 price target on the stock. Finally, Robert W. Baird increased their price target on Visteon from $150.00 to $170.00 and gave the company an outperform rating in a report on Monday, April 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Visteon has an average rating of Buy and an average target price of $140.33.

Shares of VC opened at $128.63 on Thursday. Visteon has a 1 year low of $91.20 and a 1 year high of $140.64. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47.

Visteon (NYSE:VC) last issued its quarterly earnings data on Thursday, April 26th. The auto parts company reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.29. The business had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $832.35 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 up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. sell-side analysts expect that Visteon will post 6.23 earnings per share for the current fiscal year.

In other news, CEO Sachin Lawande sold 2,500 shares of the stock in a transaction on Monday, May 7th. The stock was sold at an average price of $125.00, for a total transaction of $312,500.00. Following the transaction, the chief executive officer now owns 32,527 shares of the company’s stock, valued at approximately $4,065,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of VC. US Bancorp DE raised its stake in Visteon by 261.2% in the first quarter. US Bancorp DE now owns 1,293 shares of the auto parts company’s stock valued at $143,000 after buying an additional 935 shares during the last quarter. TLP Group LLC raised its stake in Visteon by 61,600.0% in the first quarter. TLP Group LLC now owns 1,851 shares of the auto parts company’s stock valued at $204,000 after buying an additional 1,848 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Visteon in the first quarter valued at about $213,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Visteon by 42.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,758 shares of the auto parts company’s stock valued at $220,000 after buying an additional 526 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Visteon in the fourth quarter valued at about $287,000.

About Visteon

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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