Visteon Corporation (NASDAQ:VC) Sees Significant Growth in Short Interest

Visteon Corporation (NASDAQ:VC) was the target of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 2,892,988 shares, a growth of 18.0% from the February 12th total of 2,451,435 shares. Approximately 11.0% of the company’s stock are sold short. Based on an average daily trading volume, of 791,370 shares, the days-to-cover ratio is presently 3.7 days. Based on an average daily trading volume, of 791,370 shares, the days-to-cover ratio is presently 3.7 days. Approximately 11.0% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VC shares. Royal Bank Of Canada reduced their price target on shares of Visteon from $140.00 to $127.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. UBS Group cut their target price on Visteon from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft set a $117.00 target price on Visteon in a report on Friday, February 20th. The Goldman Sachs Group set a $120.00 target price on Visteon in a research report on Thursday, January 15th. Finally, Morgan Stanley lifted their price target on Visteon from $95.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Visteon presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.33.

Visteon Stock Performance

Shares of VC opened at $90.06 on Tuesday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 9.55, a P/E/G ratio of 1.08 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.53 and a current ratio of 1.80. Visteon has a 1 year low of $65.10 and a 1 year high of $129.10. The company’s fifty day moving average is $96.34 and its two-hundred day moving average is $105.25.

Visteon (NASDAQ:VC) last released its earnings results on Thursday, February 19th. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.08 by $0.88. Visteon had a net margin of 6.93% and a return on equity of 17.94%. The company had revenue of $948.00 million during the quarter, compared to analysts’ expectations of $920.25 million. During the same quarter last year, the business earned $4.44 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Visteon will post 8.42 earnings per share for the current year.

Visteon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.50 dividend on an annualized basis and a yield of 1.7%. This is a boost from Visteon’s previous quarterly dividend of $0.28. Visteon’s dividend payout ratio is presently 15.91%.

Insider Buying and Selling at Visteon

In other news, CEO Sachin Lawande sold 49,453 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $93.44, for a total value of $4,620,888.32. Following the completion of the transaction, the chief executive officer owned 175,527 shares in the company, valued at approximately $16,401,242.88. This represents a 21.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Visteon

A number of large investors have recently modified their holdings of VC. American Century Companies Inc. boosted its stake in shares of Visteon by 28.6% in the second quarter. American Century Companies Inc. now owns 2,222,551 shares of the company’s stock valued at $207,364,000 after buying an additional 494,820 shares in the last quarter. Boston Partners purchased a new position in Visteon in the fourth quarter worth $25,342,000. Squarepoint Ops LLC purchased a new position in Visteon in the fourth quarter worth $22,361,000. First Trust Advisors LP raised its position in Visteon by 483.0% in the fourth quarter. First Trust Advisors LP now owns 231,682 shares of the company’s stock worth $22,033,000 after acquiring an additional 191,943 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Visteon by 16.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock valued at $126,902,000 after acquiring an additional 187,347 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

About Visteon

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.