Visteon Corporation (VC) Downgraded by Zacks Investment Research to “Hold”
Visteon Corporation (NYSE:VC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Several other equities research analysts have also recently weighed in on VC. Royal Bank Of Canada reissued a “hold” rating and issued a $126.00 price target on shares of Visteon Corporation in a research note on Wednesday, October 18th. UBS AG increased their price target on Visteon Corporation from $113.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Robert W. Baird reissued a “buy” rating and issued a $143.00 price target on shares of Visteon Corporation in a research note on Tuesday, October 17th. Jefferies Group LLC began coverage on Visteon Corporation in a research note on Thursday, September 28th. They issued a “hold” rating and a $135.00 price target for the company. Finally, Barclays PLC reissued an “equal weight” rating and issued a $98.00 price target (up previously from $97.00) on shares of Visteon Corporation in a research note on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Visteon Corporation presently has an average rating of “Buy” and a consensus target price of $119.86.
Visteon Corporation (NYSE:VC) opened at 124.03 on Wednesday. Visteon Corporation has a one year low of $66.40 and a one year high of $128.39. The company has a market cap of $3.87 billion, a PE ratio of 29.98 and a beta of 0.85. The firm’s 50-day moving average price is $122.35 and its 200-day moving average price is $108.77.
Visteon Corporation (NYSE:VC) last issued its quarterly earnings results on Thursday, July 27th. The auto parts company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.14. The company had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $770.96 million. Visteon Corporation had a return on equity of 27.56% and a net margin of 4.35%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. On average, equities research analysts forecast that Visteon Corporation will post $6.13 earnings per share for the current fiscal year.
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In related news, insider Matthew M. Cole sold 1,359 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $114.19, for a total transaction of $155,184.21. Following the sale, the insider now owns 693 shares in the company, valued at approximately $79,133.67. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sunil K. Bilolikar sold 2,394 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $110.93, for a total value of $265,566.42. Following the sale, the insider now owns 300 shares in the company, valued at approximately $33,279. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,375 shares of company stock worth $864,312. 0.19% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in VC. Comerica Bank bought a new stake in shares of Visteon Corporation during the 1st quarter valued at about $232,000. UBS Asset Management Americas Inc. boosted its position in shares of 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 valued at $2,940,000 after purchasing an additional 4,183 shares in the last quarter. Legal & General Group Plc boosted its position in shares of 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 valued at $4,846,000 after purchasing an additional 4,284 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Visteon Corporation by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 2,649,549 shares of the auto parts company’s stock valued at $259,523,000 after purchasing an additional 55,541 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Visteon Corporation by 6.0% in the first quarter. Geode Capital Management LLC now owns 247,339 shares of the auto parts company’s stock worth $24,226,000 after acquiring an additional 13,946 shares in the last quarter.
Visteon Corporation Company Profile
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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