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

Visteon (NASDAQ:VC) had its price objective dropped by analysts at Wells Fargo & Company from $125.00 to $124.00 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 price objective indicates a potential upside of 33.82% from the company’s current price.

VC has been the subject of several other reports. Royal Bank Of Canada reduced their target price on Visteon from $140.00 to $127.00 and set an “outperform” rating for the company in a report on Friday, February 20th. JPMorgan Chase & Co. cut their price target on Visteon from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, March 9th. The Goldman Sachs Group set a $120.00 price objective on Visteon in a report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft set a $117.00 price objective on shares of Visteon in a research note on Friday, February 20th. Finally, UBS Group reduced their target price on shares of Visteon from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 20th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $122.25.

Visteon Stock Up 1.7%

Visteon stock opened at $92.66 on Tuesday. The stock has a market cap of $2.49 billion, a PE ratio of 9.83, a P/E/G ratio of 1.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.80 and a quick ratio of 1.53. The stock’s fifty day moving average is $93.70 and its two-hundred day moving average is $102.20. Visteon has a 1-year low of $65.10 and a 1-year high of $129.10.

Visteon (NASDAQ:VC) last released its quarterly earnings data on Thursday, February 19th. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.88. Visteon had a return on equity of 17.94% and a net margin of 6.93%.The business had revenue of $948.00 million during the quarter, compared to analysts’ expectations of $920.25 million. During the same period in the prior year, the firm posted $4.44 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Visteon will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at Visteon

In other news, CEO Sachin Lawande sold 49,453 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the transaction, the chief executive officer directly owned 175,527 shares in the company, valued at $16,401,242.88. The trade was a 21.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Visteon

Several hedge funds have recently modified their holdings of VC. Vanguard Group Inc. grew its holdings in Visteon by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,863,897 shares of the company’s stock worth $343,267,000 after acquiring an additional 12,903 shares during the period. Victory Capital Management Inc. grew its stake in shares of Visteon by 16.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock worth $126,902,000 after purchasing an additional 187,347 shares during the period. Invesco Ltd. increased its holdings in shares of Visteon by 8.4% in the 4th quarter. Invesco Ltd. now owns 1,253,628 shares of the company’s stock valued at $119,220,000 after purchasing an additional 97,100 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Visteon by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,228,016 shares of the company’s stock valued at $116,787,000 after purchasing an additional 46,601 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Visteon by 3.1% in the second quarter. State Street Corp now owns 1,107,091 shares of the company’s stock valued at $103,292,000 after purchasing an additional 33,155 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

Visteon Company Profile

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.