Visteon Corp. (NYSE:VC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
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. “
Several other equities research analysts have also recently commented on the stock. FBR & Co reissued a “buy” rating on shares of Visteon Corp. in a research report on Sunday, September 11th. JPMorgan Chase & Co. reissued a “buy” rating and set a $85.00 price target on shares of Visteon Corp. in a research report on Friday, July 29th. Deutsche Bank AG began coverage on shares of Visteon Corp. in a research report on Wednesday, July 20th. They set a “hold” rating and a $80.00 price target on the stock. Wells Fargo & Co. reissued a “hold” rating and set a $72.50 price target on shares of Visteon Corp. in a research report on Monday, July 18th. Finally, Robert W. Baird reissued a “buy” rating on shares of Visteon Corp. in a research report on Tuesday, June 28th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Visteon Corp. currently has an average rating of “Hold” and a consensus target price of $88.21.
Shares of Visteon Corp. (NYSE:VC) opened at 69.94 on Thursday. The company’s 50-day moving average price is $71.38 and its 200-day moving average price is $72.70. The firm has a market capitalization of $2.38 billion, a P/E ratio of 37.97 and a beta of 1.29. Visteon Corp. has a 52-week low of $58.83 and a 52-week high of $121.65.
Visteon Corp. (NYSE:VC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.67 by $0.55. Visteon Corp. had a net margin of 2.22% and a return on equity of 11.55%. The firm had revenue of $773 million for the quarter, compared to analysts’ expectations of $821.07 million. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts expect that Visteon Corp. will post $4.45 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VC. Williams Jones & Associates LLC raised its position in shares of Visteon Corp. by 13.1% in the second quarter. Williams Jones & Associates LLC now owns 6,809 shares of the company’s stock worth $448,000 after buying an additional 790 shares during the last quarter. Stifel Financial Corp raised its stake in Visteon Corp. by 481.5% in the second quarter. Stifel Financial Corp now owns 20,458 shares of the company’s stock valued at $1,346,000 after buying an additional 16,940 shares in the last quarter. Amalgamated Bank raised its stake in Visteon Corp. by 14.0% in the second quarter. Amalgamated Bank now owns 5,453 shares of the company’s stock valued at $388,000 after buying an additional 671 shares in the last quarter. Legal & General Group Plc raised its stake in Visteon Corp. by 41.9% in the second quarter. Legal & General Group Plc now owns 37,482 shares of the company’s stock valued at $2,467,000 after buying an additional 11,071 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Visteon Corp. by 201.0% in the second quarter. Jane Street Group LLC now owns 6,870 shares of the company’s stock valued at $452,000 after buying an additional 13,670 shares in the last quarter.
About Visteon Corp.
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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