Wells Fargo & Company Issues Pessimistic Forecast for Visteon (NASDAQ:VC) Stock Price

Visteon (NASDAQ:VC) had its price objective cut by equities research analysts at Wells Fargo & Company from $151.00 to $148.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 42.64% from the company’s previous close.

Several other brokerages have also commented on VC. Weiss Ratings restated a “hold (c)” rating on shares of Visteon in a report on Wednesday, October 8th. Bank of America upped their price target on Visteon from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Wall Street Zen lowered Visteon from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research cut shares of Visteon from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on Visteon from $104.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.08.

Visteon Trading Up 3.9%

Shares of VC opened at $103.76 on Tuesday. The firm’s fifty day moving average is $107.45 and its two-hundred day moving average is $108.74. The stock has a market cap of $2.83 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 2.36 and a beta of 1.14. The company has a quick ratio of 1.56, a current ratio of 1.89 and a debt-to-equity ratio of 0.18. Visteon has a 52-week low of $65.10 and a 52-week high of $129.10.

Visteon (NASDAQ:VC) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.07 by $0.08. Visteon had a return on equity of 21.85% and a net margin of 8.22%.The business had revenue of $917.00 million for the quarter, compared to analyst estimates of $945.41 million. During the same quarter in the previous year, the firm earned $2.26 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts forecast that Visteon will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Visteon

In related news, CEO Sachin Lawande sold 595 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $110.02, for a total value of $65,461.90. Following the completion of the transaction, the chief executive officer owned 175,527 shares in the company, valued at $19,311,480.54. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VC. Cullen Frost Bankers Inc. bought a new stake in Visteon during the 3rd quarter worth about $30,000. Fifth Third Bancorp increased its stake in Visteon by 111.5% during the 2nd quarter. Fifth Third Bancorp now owns 387 shares of the company’s stock worth $36,000 after purchasing an additional 204 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Visteon during the third quarter worth $44,000. EMC Capital Management acquired a new stake in shares of Visteon in the 2nd quarter valued at about $45,000. Finally, Plato Investment Management Ltd bought a new stake in Visteon in the 3rd quarter valued at approximately $48,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

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.