Visteon (NASDAQ:VC) Shares Gap Up Following Better-Than-Expected Earnings

Visteon Co. (NASDAQ:VC) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $87.61, but opened at $92.26. Visteon shares last traded at $92.71, with a volume of 132,716 shares changing hands.

The company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.89 by $0.37. The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.60 million. Visteon had a net margin of 13.79% and a return on equity of 51.69%. Visteon’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.35 earnings per share.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Baird R W lowered Visteon from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Citigroup reduced 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $124.00 target price on shares of Visteon in a research note on Tuesday, September 10th. Wolfe Research began coverage on shares of Visteon in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada decreased their price objective on shares of Visteon from $129.00 to $124.00 and set an “outperform” rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.57.

Insider Activity

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of the 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 owns 5,988 shares in the company, valued at $669,039.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Visteon

A number of large investors have recently made changes to their positions in VC. Signaturefd LLC raised its position in Visteon by 70.8% during the second quarter. Signaturefd LLC now owns 287 shares of the company’s stock valued at $31,000 after buying an additional 119 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Visteon in the first quarter worth approximately $48,000. Mather Group LLC. purchased a new stake in shares of Visteon in the second quarter worth approximately $59,000. Acadian Asset Management LLC acquired a new stake in shares of Visteon during the second quarter worth approximately $89,000. Finally, Motco purchased a new position in Visteon during the first quarter valued at approximately $106,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

Visteon Trading Up 0.4 %

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 cap of $2.56 billion, a price-to-earnings ratio of 4.80, a price-to-earnings-growth ratio of 0.43 and a beta of 1.45. The company’s 50 day simple moving average is $94.58 and its two-hundred day simple moving average is $103.89.

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.