Visteon (NASDAQ:VC) Stock Gets Price Target Reduction from Royal Bank Of Canada

Visteon (NASDAQ:VC) had its price target lowered by Royal Bank Of Canada from $129.00 to $127.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on VC. The Goldman Sachs Group lowered their price target on Visteon from $126.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Morgan Stanley boosted their price objective on Visteon from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Barclays cut their price objective on Visteon from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Wells Fargo & Company decreased their target price on Visteon from $137.00 to $134.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Finally, Wall Street Zen cut Visteon from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.82.

Visteon Price Performance

Shares of VC opened at $86.61 on Monday. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 0.56 and a beta of 1.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.45 and a current ratio of 1.78. Visteon has a one year low of $83.49 and a one year high of $126.95. The stock’s fifty day moving average is $97.49 and its 200-day moving average is $103.72.

Visteon (NASDAQ:VC) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.30). The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $955.78 million. Visteon had a net margin of 5.58% and a return on equity of 14.61%. Visteon’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.39 earnings per share. Equities analysts anticipate that Visteon will post 8.34 EPS for the current year.

Visteon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, September 1st. Visteon’s payout ratio is presently 19.61%.

Institutional Trading of Visteon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of Visteon by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 5,582 shares of the company’s stock valued at $509,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Visteon by 24.6% in the 3rd quarter. Versant Capital Management Inc now owns 724 shares of the company’s stock valued at $63,000 after purchasing an additional 143 shares during the period. Farther Finance Advisors LLC increased its stake in Visteon by 7.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,354 shares of the company’s stock worth $204,000 after purchasing an additional 155 shares in the last quarter. State of Michigan Retirement System increased its stake in Visteon by 3.1% in the 1st quarter. State of Michigan Retirement System now owns 6,607 shares of the company’s stock worth $602,000 after purchasing an additional 200 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Visteon by 8.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,178 shares of the company’s stock worth $381,000 after purchasing an additional 337 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

About Visteon

Visteon Corporation (NASDAQ: VC) is a global automotive technology company that develops electronic systems and software for vehicle manufacturers. Its products are designed to support the digital cockpit, vehicle connectivity, electrification and advanced driver-assistance functions.

The company’s offerings include cockpit domain controllers, infotainment systems, instrument clusters, vehicle displays, telematics and connectivity solutions, climate-control electronics, and battery-management and power-conversion systems for electrified vehicles.