Visteon (NASDAQ:VC) Stock Price Down 9.4% Following Analyst Downgrade

Visteon Corporation (NASDAQ:VC)’s stock price fell 9.4% on Friday after Wells Fargo & Company lowered their price target on the stock from $139.00 to $137.00. Wells Fargo & Company currently has an overweight rating on the stock. Visteon traded as low as $98.40 and last traded at $101.0180. 107,326 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 583,598 shares. The stock had previously closed at $111.50.

Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group upped their target price on shares of Visteon from $106.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Wolfe Research raised shares of Visteon from a “peer perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Monday, April 27th. Robert W. Baird boosted their price target on shares of Visteon from $112.00 to $121.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays raised Visteon from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $115.00 to $145.00 in a research note on Monday. Finally, Morgan Stanley set a $115.00 target price on Visteon in a report on Monday, April 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Visteon currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.00.

Insider Transactions at Visteon

In other Visteon news, CAO Colleen Elizabeth Myers sold 475 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $110.92, for a total transaction of $52,687.00. Following the completion of the transaction, the chief accounting officer owned 241 shares in the company, valued at approximately $26,731.72. This represents a 66.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brett D. Pynnonen sold 5,000 shares of Visteon stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $120.00, for a total value of $600,000.00. Following the completion of the sale, the senior vice president directly owned 8,503 shares in the company, valued at $1,020,360. This represents a 37.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 58,901 shares of company stock worth $6,699,220. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Visteon

Several institutional investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in Visteon by 124.0% during the 1st quarter. First Trust Advisors LP now owns 519,041 shares of the company’s stock worth $47,290,000 after acquiring an additional 287,359 shares during the last quarter. Boston Partners acquired a new stake in shares of Visteon in the fourth quarter valued at approximately $25,342,000. Squarepoint Ops LLC acquired a new stake in shares of Visteon in the fourth quarter valued at approximately $22,361,000. Bank of America Corp DE lifted its position in shares of Visteon by 130.1% in the first 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. Finally, Victory Capital Management Inc. lifted its position in shares of Visteon by 16.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock worth $126,902,000 after purchasing an additional 187,347 shares in the last quarter. Institutional investors own 99.71% of the company’s stock.

Visteon Price Performance

The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.48 and a beta of 1.26. The company’s fifty day moving average is $112.83 and its 200 day moving average is $101.61. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.17.

Visteon (NASDAQ:VC) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate 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%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $2.47 earnings per share. On average, equities research analysts predict that Visteon Corporation will post 8.58 EPS for the current year.

Visteon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 1st. Visteon’s dividend payout ratio is presently 18.27%.

Visteon Company Profile

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.