Visteon Corp. (NYSE:VC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $80.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.59% from the stock’s current price.
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 issued reports on the stock. Raymond James Financial Inc. started coverage on shares of Visteon Corp. in a research note 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 note 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 note on Sunday, June 19th. Robert W. Baird reaffirmed a “buy” rating on shares of Visteon Corp. in a research note on Tuesday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Visteon Corp. in a research note on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.21.
Shares of Visteon Corp. (NYSE:VC) opened at 71.69 on Thursday. The firm has a market capitalization of $2.44 billion, a P/E ratio of 38.92 and a beta of 1.38. Visteon Corp. has a 52 week low of $58.83 and a 52 week high of $121.65. The stock’s 50 day moving average price is $71.34 and its 200 day moving average price is $72.93.
Visteon Corp. (NYSE:VC) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.22 earnings per share (EPS) for the quarter, beating 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 business earned $773 million during the quarter, compared to analyst estimates of $821.07 million. During the same quarter in the previous year, the business earned $0.38 EPS. Visteon Corp.’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, analysts predict that Visteon Corp. will post $4.45 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Iridian Asset Management LLC CT raised its position in shares of Visteon Corp. by 25.0% in the second quarter. Iridian Asset Management LLC CT now owns 3,056,297 shares of the company’s stock worth $201,135,000 after buying an additional 610,595 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Visteon Corp. by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,478,793 shares of the company’s stock worth $97,325,000 after buying an additional 112,206 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Visteon Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,010,888 shares of the company’s stock worth $80,457,000 after buying an additional 17,047 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Visteon Corp. by 35.7% in the second quarter. First Eagle Investment Management LLC now owns 890,212 shares of the company’s stock worth $58,585,000 after buying an additional 234,232 shares in the last quarter. Finally, State Street Corp raised its position in shares of Visteon Corp. by 6.5% in the first quarter. State Street Corp now owns 621,088 shares of the company’s stock worth $49,433,000 after buying an additional 38,033 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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