Visteon Corporation (VC) Stock Rating Lowered by Zacks Investment Research
Visteon Corporation (NYSE:VC) was downgraded by Zacks Investment Research 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. “
A number of other equities research analysts have also issued reports on VC. J P Morgan Chase & Co reiterated an “overweight” rating and set a $110.00 target price on shares of Visteon Corporation in a report on Wednesday, June 21st. BidaskClub lowered shares of Visteon Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. BMO Capital Markets upgraded shares of Visteon Corporation from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $96.00 to $85.00 in a report on Monday, June 26th. Gabelli lowered shares of Visteon Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. They noted that the move was a valuation call. Finally, UBS AG lowered shares of Visteon Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $108.00 to $113.00 in a report on Monday, July 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $115.62.
Shares of Visteon Corporation (NYSE:VC) traded down 1.59% during trading on Thursday, reaching $122.53. 8,685 shares of the company were exchanged. The firm has a 50-day moving average price of $120.07 and a 200-day moving average price of $106.92. Visteon Corporation has a 1-year low of $64.95 and a 1-year high of $128.39. The stock has a market capitalization of $3.82 billion, a P/E ratio of 29.62 and a beta of 0.85.
Visteon Corporation (NYSE:VC) last released its earnings results on Thursday, July 27th. The auto parts company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.14. The company had revenue of $774.00 million for the quarter, compared to analyst estimates of $770.96 million. Visteon Corporation had a net margin of 4.35% and a return on equity of 27.56%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 EPS. Equities research analysts predict that Visteon Corporation will post $6.11 earnings per share for the current fiscal year.
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In related news, insider Matthew M. Cole sold 1,359 shares of Visteon Corporation stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $114.19, for a total transaction of $155,184.21. Following the sale, the insider now directly owns 693 shares in the company, valued at approximately $79,133.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sunil K. Bilolikar sold 2,394 shares of Visteon Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $110.93, for a total transaction of $265,566.42. Following the sale, the insider now owns 300 shares in the company, valued at $33,279. The disclosure for this sale can be found here. Insiders have sold a total of 5,371 shares of company stock worth $616,016 over the last quarter. 0.19% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in VC. Comerica Bank acquired a new stake in Visteon Corporation during the 1st quarter worth $232,000. UBS Asset Management Americas Inc. raised its stake in Visteon Corporation by 16.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 30,013 shares of the auto parts company’s stock worth $2,940,000 after acquiring an additional 4,183 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Visteon Corporation by 175.3% during the 1st quarter. Ameriprise Financial Inc. now owns 89,339 shares of the auto parts company’s stock worth $8,751,000 after acquiring an additional 56,892 shares in the last quarter. Legal & General Group Plc raised its stake in Visteon Corporation by 9.5% during the 1st quarter. Legal & General Group Plc now owns 49,463 shares of the auto parts company’s stock worth $4,846,000 after acquiring an additional 4,284 shares in the last quarter. Finally, Ngam Advisors L.P. raised its stake in Visteon Corporation by 7.4% during the 1st quarter. Ngam Advisors L.P. now owns 22,048 shares of the auto parts company’s stock worth $2,160,000 after acquiring an additional 1,522 shares in the last quarter.
About Visteon Corporation
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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