Visteon (NASDAQ:VC) Raised to “Overweight” at JPMorgan Chase & Co.

Visteon (NASDAQ:VC) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Monday,Benzinga reports. The firm presently has a $165.00 price target on the stock, up from their prior price target of $108.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 44.98% from the company’s previous close.

A number of other research firms also recently issued reports on VC. Morgan Stanley set a $115.00 target price on shares of Visteon in a research report on Monday, April 27th. Weiss Ratings upgraded Visteon from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Wall Street Zen downgraded Visteon from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. The Goldman Sachs Group lifted their price target on Visteon from $106.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Wolfe Research raised Visteon from a “peer perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research report on Monday, April 27th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.42.

Visteon Stock Performance

Shares of VC stock opened at $113.81 on Monday. Visteon has a fifty-two week low of $83.49 and a fifty-two week high of $129.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.73. The stock has a 50 day simple moving average of $111.08 and a two-hundred day simple moving average of $101.16. The company has a market cap of $3.04 billion, a P/E ratio of 13.86, a PEG ratio of 1.43 and a beta of 1.26.

Visteon (NASDAQ:VC) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.31). The business had revenue of $954.00 million for the quarter, compared to the consensus estimate of $901.33 million. Visteon had a return on equity of 15.93% and a net margin of 5.99%.Visteon’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.47 earnings per share. Research analysts forecast that Visteon will post 8.54 earnings per share for the current year.

Insider Transactions at Visteon

In other news, CEO Sachin Lawande sold 38,817 shares of Visteon stock in a transaction on Friday, April 24th. The stock was sold at an average price of $113.63, for a total value of $4,410,775.71. Following the completion of the transaction, the chief executive officer directly owned 193,822 shares in the company, valued at approximately $22,023,993.86. The trade was a 16.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Seungkyung Kim sold 600 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $118.96, for a total value of $71,376.00. Following the sale, the senior vice president owned 389 shares in the company, valued at approximately $46,275.44. The trade was a 60.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 58,901 shares of company stock valued at $6,699,220. 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 modified their holdings of VC. Bank of America Corp DE lifted its stake in Visteon by 130.1% in the 1st quarter. Bank of America Corp DE now owns 396,310 shares of the company’s stock worth $36,108,000 after purchasing an additional 224,097 shares in the last quarter. Edgestream Partners L.P. grew its position in Visteon by 355.9% during the first quarter. Edgestream Partners L.P. now owns 16,452 shares of the company’s stock valued at $1,499,000 after acquiring an additional 12,843 shares during the last quarter. Amundi raised its position in Visteon by 54.4% in the 1st quarter. Amundi now owns 8,178 shares of the company’s stock worth $745,000 after purchasing an additional 2,880 shares during the period. California State Teachers Retirement System boosted its position in Visteon by 25.5% during the first quarter. California State Teachers Retirement System now owns 32,697 shares of the company’s stock valued at $2,979,000 after buying an additional 6,653 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Visteon by 103.2% during the first quarter. Royal Bank of Canada now owns 45,410 shares of the company’s stock valued at $4,137,000 after buying an additional 23,066 shares during the last quarter. 99.71% of the stock is currently owned by 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.