Summit Global Investments Makes New $518,000 Investment in Visteon Co. (NASDAQ:VC)

Summit Global Investments bought a new stake in Visteon Co. (NASDAQ:VC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,442 shares of the company’s stock, valued at approximately $518,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of VC. American Century Companies Inc. raised its stake in Visteon by 1,459.9% in the 2nd quarter. American Century Companies Inc. now owns 523,521 shares of the company’s stock valued at $55,860,000 after acquiring an additional 489,959 shares during the period. Victory Capital Management Inc. raised its position in shares of Visteon by 10.0% in the second quarter. Victory Capital Management Inc. now owns 1,516,024 shares of the company’s stock valued at $161,760,000 after purchasing an additional 137,264 shares during the period. Millennium Management LLC lifted its stake in shares of Visteon by 24.4% during the 2nd quarter. Millennium Management LLC now owns 568,536 shares of the company’s stock valued at $60,663,000 after buying an additional 111,377 shares in the last quarter. Lodge Hill Capital LLC bought a new position in Visteon in the 2nd quarter worth approximately $11,204,000. Finally, Dimensional Fund Advisors LP grew its stake in Visteon by 14.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 670,597 shares of the company’s stock valued at $71,552,000 after buying an additional 83,840 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Visteon Stock Performance

Visteon stock opened at $92.09 on Monday. The firm has a fifty day simple moving average of $93.10 and a two-hundred day simple moving average of $102.46. The company has a quick ratio of 1.47, a current ratio of 1.82 and a debt-to-equity ratio of 0.24. Visteon Co. has a twelve month low of $86.77 and a twelve month high of $131.70. The company has a market capitalization of $2.54 billion, a PE ratio of 5.00, a P/E/G ratio of 0.45 and a beta of 1.45.

Visteon (NASDAQ:VC) last released its earnings results on Thursday, October 24th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.37. The company had revenue of $980.00 million during the quarter, compared to analyst estimates of $965.60 million. Visteon had a return on equity of 46.19% and a net margin of 13.22%. Visteon’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.35 EPS. Research analysts expect that Visteon Co. will post 8.04 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on VC shares. Wolfe Research began coverage on Visteon in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Barclays reduced their price objective on shares of Visteon from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Wells Fargo & Company raised shares of Visteon from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $122.00 in a report on Friday, September 20th. TD Cowen decreased their price target on shares of Visteon from $142.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, Morgan Stanley lowered their price objective on Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.57.

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.