Wells Fargo & Company Has Lowered Expectations for Visteon (NASDAQ:VC) Stock Price

Visteon (NASDAQ:VC) had its target price cut by Wells Fargo & Company from $122.00 to $119.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada dropped their target price on shares of Visteon from $129.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, October 25th. StockNews.com cut Visteon from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. The Goldman Sachs Group reduced their price objective on Visteon from $130.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price on Visteon from $132.00 to $122.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Finally, Wolfe Research began coverage on Visteon in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.15.

Visteon Trading Down 2.9 %

NASDAQ VC opened at $90.46 on Monday. The stock has a market capitalization of $2.50 billion, a P/E ratio of 4.91, a P/E/G ratio of 0.44 and a beta of 1.44. The firm has a 50-day moving average price of $92.07 and a 200 day moving average price of $98.72. Visteon has a 52-week low of $86.27 and a 52-week high of $131.43. 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 (NASDAQ:VC) last released its earnings results on Thursday, October 24th. The company reported $2.26 EPS 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 the consensus estimate of $965.60 million. Visteon had a return on equity of 46.19% and a net margin of 13.22%. Visteon’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 earnings per share. Equities research analysts expect that Visteon will post 8.2 EPS for the current year.

Institutional Investors Weigh In On Visteon

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of Visteon by 1,459.9% during the second quarter. American Century Companies Inc. now owns 523,521 shares of the company’s stock valued at $55,860,000 after buying an additional 489,959 shares during the period. Victory Capital Management Inc. raised its holdings in Visteon by 10.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,516,024 shares of the company’s stock valued at $161,760,000 after acquiring an additional 137,264 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Visteon during the 3rd quarter worth $10,779,000. Millennium Management LLC boosted its holdings in shares of Visteon by 24.4% during the second quarter. Millennium Management LLC now owns 568,536 shares of the company’s stock worth $60,663,000 after purchasing an additional 111,377 shares during the last quarter. Finally, Lodge Hill Capital LLC acquired a new stake in shares of Visteon during the second quarter worth $11,204,000. 99.71% of the stock is owned by institutional investors and hedge funds.

Visteon Company Profile

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.