Visteon (NASDAQ:VC) Lifted to Overweight at Wells Fargo & Company

Visteon (NASDAQ:VC) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday, Briefing.com reports. The firm currently has a $122.00 price target on the stock, up from their previous price target of $115.00. Wells Fargo & Company‘s target price indicates a potential upside of 28.22% from the stock’s previous close.

A number of other research firms have also recently commented on VC. Wolfe Research started coverage on Visteon in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. UBS Group dropped their target price on shares of Visteon from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada reduced their price target on shares of Visteon from $144.00 to $129.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Citigroup dropped their price objective on shares of Visteon from $139.00 to $126.00 and set a “buy” rating for the company in a report on Friday, July 12th. Finally, Baird R W downgraded Visteon from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.36.

Visteon Stock Up 3.0 %

Shares of Visteon stock opened at $95.15 on Friday. The company has a 50-day simple moving average of $101.97 and a two-hundred day simple moving average of $107.91. Visteon has a 52-week low of $88.37 and a 52-week high of $143.97. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.50 and a current ratio of 1.85. The stock has a market capitalization of $2.63 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 0.44 and a beta of 1.46.

Visteon (NASDAQ:VC) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $1.96 by $0.58. Visteon had a return on equity of 51.69% and a net margin of 13.79%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted $1.18 earnings per share. Visteon’s revenue was up 3.2% compared to the same quarter last year. On average, analysts anticipate that Visteon will post 8.06 EPS for the current fiscal year.

Insider Activity

In other news, SVP Joao Paulo Ribeiro sold 3,859 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the transaction, the senior vice president now directly owns 5,988 shares of the company’s stock, valued at approximately $669,039.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Systematic Financial Management LP grew its position in Visteon by 5.9% during the 2nd quarter. Systematic Financial Management LP now owns 232,238 shares of the company’s stock worth $24,780,000 after purchasing an additional 13,000 shares during the last quarter. Creative Planning boosted its holdings in shares of Visteon by 10.4% in the 2nd quarter. Creative Planning now owns 4,754 shares of the company’s stock valued at $507,000 after acquiring an additional 448 shares during the last quarter. Millennium Management LLC increased its stake in shares of Visteon by 24.4% in the second quarter. Millennium Management LLC now owns 568,536 shares of the company’s stock worth $60,663,000 after acquiring an additional 111,377 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Visteon by 0.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 322,450 shares of the company’s stock worth $34,405,000 after purchasing an additional 1,148 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Visteon by 107.3% during the second quarter. AQR Capital Management LLC now owns 67,215 shares of the company’s stock valued at $7,136,000 after purchasing an additional 34,795 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

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.