Wells Fargo & Company Upgrades Visteon (NASDAQ:VC) to “Equal Weight”

Visteon (NASDAQ:VC) was upgraded by analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued on Friday, MarketBeat.com reports. The firm presently has a $108.00 target price on the stock, up from their prior target price of $106.00. Wells Fargo & Company‘s target price would suggest a potential downside of 3.73% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. UBS Group raised Visteon from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $143.00 to $145.00 in a research note on Wednesday, January 17th. Royal Bank of Canada dropped their price objective on Visteon from $188.00 to $146.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Bank of America dropped their price objective on Visteon from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Guggenheim dropped their price objective on Visteon from $136.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com raised Visteon from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.36.

Visteon Stock Performance

NASDAQ:VC opened at $112.19 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.74 and a quick ratio of 1.42. The business has a fifty day simple moving average of $113.58 and a two-hundred day simple moving average of $118.35. Visteon has a 1 year low of $105.19 and a 1 year high of $159.87. The company has a market capitalization of $3.08 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.49 and a beta of 1.65.

Visteon (NASDAQ:VC) last released its earnings results on Thursday, April 25th. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.14). The firm had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $971.45 million. Visteon had a return on equity of 53.49% and a net margin of 12.60%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. On average, analysts expect that Visteon will post 8.68 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Covestor Ltd grew its holdings in shares of Visteon by 105.7% during the 3rd quarter. Covestor Ltd now owns 216 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the period. Parallel Advisors LLC grew its holdings in shares of Visteon by 98.6% during the 4th quarter. Parallel Advisors LLC now owns 286 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares during the period. CWM LLC grew its holdings in shares of Visteon by 53.6% during the 4th quarter. CWM LLC now owns 401 shares of the company’s stock worth $50,000 after acquiring an additional 140 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Visteon by 76.7% during the 4th quarter. Quadrant Capital Group LLC now owns 410 shares of the company’s stock worth $51,000 after acquiring an additional 178 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Visteon during the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.