Visteon (NYSE:VC) was downgraded by equities researchers at UBS Group from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other brokerages also recently commented on VC. Robert W. Baird lifted their price objective on shares of Visteon from $65.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Zacks Investment Research raised shares of Visteon from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 29th. Barclays set a $60.00 target price on shares of Visteon and gave the stock a “hold” rating in a research note on Friday, July 26th. Deutsche Bank set a $64.00 target price on shares of Visteon and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Citigroup raised their target price on shares of Visteon from $58.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Visteon has a consensus rating of “Hold” and a consensus target price of $73.33.
Shares of VC opened at $80.85 on Thursday. The firm has a 50-day moving average of $66.62 and a 200-day moving average of $64.86. Visteon has a one year low of $44.04 and a one year high of $108.42.
Visteon (NYSE:VC) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). The firm had revenue of $733.00 million for the quarter, compared to the consensus estimate of $719.55 million. During the same period in the previous year, the business posted $1.37 earnings per share. Visteon’s revenue for the quarter was down 3.3% on a year-over-year basis.
In other news, Director Harry James Wilson bought 2,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was bought at an average cost of $53.92 per share, for a total transaction of $107,840.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at $647,040. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in VC. Invesco Ltd. grew its holdings in shares of Visteon by 200.1% during the 2nd quarter. Invesco Ltd. now owns 2,588,284 shares of the auto parts company’s stock valued at $151,622,000 after purchasing an additional 1,725,726 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Visteon by 7,509.9% during the 1st quarter. BlackRock Inc. now owns 1,371,527 shares of the auto parts company’s stock valued at $134,341,000 after purchasing an additional 1,353,504 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Visteon by 97.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,868,892 shares of the auto parts company’s stock valued at $241,536,000 after purchasing an additional 923,916 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Visteon by 17.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,635,289 shares of the auto parts company’s stock valued at $271,535,000 after purchasing an additional 672,851 shares during the last quarter. Finally, Marathon Asset Management LLP bought a new stake in shares of Visteon during the 2nd quarter valued at approximately $37,219,000.
Visteon 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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