UBS Asset Management Americas Inc. boosted its stake in shares of Visteon Corp. (NYSE:VC) by 12.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,900 shares of the company’s stock after buying an additional 9,924 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.26% of Visteon Corp. worth $5,785,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Visteon Corp. during the fourth quarter valued at approximately $45,275,000. Mesirow Financial Investment Management Equity Management purchased a new stake in Visteon Corp. during the second quarter valued at approximately $18,529,000. Copper Rock Capital Partners LLC purchased a new stake in Visteon Corp. during the second quarter valued at approximately $18,079,000. Emerald Acquisition Ltd. purchased a new stake in Visteon Corp. during the second quarter valued at approximately $9,675,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in Visteon Corp. by 2,682.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 150,457 shares of the company’s stock valued at $11,975,000 after buying an additional 145,050 shares during the last quarter.
Shares of Visteon Corp. (NYSE:VC) traded up 0.07% during trading on Wednesday, reaching $71.49. 191,391 shares of the company traded hands. The stock’s 50 day moving average is $71.30 and its 200 day moving average is $72.94. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 38.81 and a beta of 1.38. Visteon Corp. has a 1-year low of $58.83 and a 1-year high of $121.65.
Visteon Corp. (NYSE:VC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.55. Visteon Corp. had a return on equity of 11.55% and a net margin of 2.22%. The business earned $773 million during the quarter, compared to the consensus estimate of $821.07 million. During the same period in the previous year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts forecast that Visteon Corp. will post $4.45 EPS for the current year.
VC has been the subject of several analyst reports. Zacks Investment Research lowered shares of Visteon Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th. Raymond James Financial Inc. started coverage on shares of Visteon Corp. in a research report on Wednesday, June 22nd. They issued a “market perform” rating for the company. Wells Fargo & Co. reaffirmed a “hold” rating and issued a $72.50 price objective on shares of Visteon Corp. in a research report on Monday, July 18th. FBR & Co reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Visteon Corp. in a research report on Sunday, June 19th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Visteon Corp. in a research report on Tuesday, June 28th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $87.93.
Visteon Corp. Company Profile
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures products for original equipment vehicle manufacturer (OEM) across the world, including Ford, Nissan, Renault, Mazda, BMW, General Motors and Honda. The Company’s segments include Electronics, which provides vehicle cockpit electronics products to customers, including audio systems, information displays, instrument clusters, head up displays, infotainment systems and telematics solutions, and Other, which includes entities located in Europe.
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