Visteon (NYSE:VC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.
According to Zacks, “Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Products offered by the Company includes climate systems, powertrain control systems, engine induction systems, cockpit modules, front and rear lighting systems, engine management systems, and electronic products comprising integrated solutions, audio and infotainment, analog/digital instrument cluster, displays, control panel. Markets served by the Company include original equipment manufacturers and automotive aftermarket. Visteon Corp. is headquartered in Michigan, USA. “
A number of other equities analysts have also recently commented on the company. Deutsche Bank upgraded Visteon from a “hold” rating to a “buy” rating and lowered their target price for the company from $106.00 to $104.00 in a report on Tuesday. Royal Bank of Canada raised shares of Visteon from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $90.00 to $106.00 in a research report on Friday, December 20th. Cowen reissued a “market perform” rating and set a $115.00 price target (up previously from $79.00) on shares of Visteon in a research report on Friday, October 25th. Guggenheim started coverage on shares of Visteon in a research note on Tuesday, October 15th. They issued a “neutral” rating for the company. Finally, Wolfe Research upgraded shares of Visteon from a “peer perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $83.31.
NYSE VC traded down $0.74 on Friday, reaching $89.15. The stock had a trading volume of 68,373 shares, compared to its average volume of 317,373. Visteon has a 12-month low of $44.04 and a 12-month high of $105.99. The stock has a fifty day moving average price of $89.42 and a two-hundred day moving average price of $78.45.
Visteon (NYSE:VC) last released its quarterly earnings results on Thursday, October 24th. The auto parts company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $731.00 million for the quarter, compared to analysts’ expectations of $700.44 million. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share.
In other news, VP Brett D. Pynnonen sold 4,451 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $95.87, for a total value of $426,717.37. Following the sale, the vice president now directly owns 2,840 shares in the company, valued at approximately $272,270.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sunil K. Bilolikar sold 1,870 shares of Visteon stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.27, for a total transaction of $181,894.90. Following the sale, the senior vice president now directly owns 1,874 shares of the company’s stock, valued at $182,283.98. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of VC. Price T Rowe Associates Inc. MD boosted its position in shares of Visteon by 17.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,635,289 shares of the auto parts company’s stock worth $271,535,000 after acquiring an additional 672,851 shares in the last quarter. BlackRock Inc. boosted its holdings in Visteon by 24.8% in the second quarter. BlackRock Inc. now owns 3,204,560 shares of the auto parts company’s stock valued at $187,725,000 after purchasing an additional 635,794 shares in the last quarter. Invesco Ltd. boosted its holdings in Visteon by 200.1% in the second quarter. Invesco Ltd. now owns 2,588,284 shares of the auto parts company’s stock valued at $151,622,000 after purchasing an additional 1,725,726 shares in the last quarter. Victory Capital Management Inc. increased its stake in Visteon by 20,099.4% in the second quarter. Victory Capital Management Inc. now owns 545,787 shares of the auto parts company’s stock valued at $31,972,000 after purchasing an additional 543,085 shares during the last quarter. Finally, Private Capital Management LLC increased its stake in Visteon by 2.5% in the second quarter. Private Capital Management LLC now owns 357,115 shares of the auto parts company’s stock valued at $20,920,000 after purchasing an additional 8,563 shares during the last quarter.
About Visteon
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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