Visteon (NASDAQ:VC) Lifted to “Equal Weight” at Wells Fargo & Company

Visteon (NASDAQ:VC) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage presently has a $108.00 price objective on the stock, up from their previous price objective of $106.00. Wells Fargo & Company‘s price objective would indicate a potential downside of 1.51% from the stock’s previous close.

Several other analysts have also issued reports on VC. Royal Bank of Canada dropped their target price on shares of Visteon from $188.00 to $146.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. UBS Group raised Visteon from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $145.00 in a report on Wednesday, January 17th. StockNews.com upgraded Visteon from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Barclays upgraded Visteon from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Finally, Bank of America dropped their target price on shares of Visteon from $165.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.90.

Visteon Trading Down 1.3 %

VC stock opened at $109.66 on Friday. Visteon has a 52-week low of $105.19 and a 52-week high of $159.87. The company has a quick ratio of 1.42, a current ratio of 1.74 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.01 billion, a P/E ratio of 6.38, a PEG ratio of 0.50 and a beta of 1.65. The company’s 50-day simple moving average is $113.72 and its 200-day simple moving average is $118.59.

Visteon (NASDAQ:VC) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $13.01 EPS for the quarter, beating the consensus estimate of $2.09 by $10.92. Visteon had a return on equity of 57.45% and a net margin of 12.29%. The company had revenue of $990.00 million for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $1.32 earnings per share. Visteon’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Visteon will post 8.68 EPS for the current fiscal year.

Institutional Trading of Visteon

A number of hedge funds and other institutional investors have recently made changes to their positions in VC. Exchange Traded Concepts LLC increased its position in shares of Visteon by 20.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,825 shares of the company’s stock worth $252,000 after purchasing an additional 304 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Visteon by 6.7% during the third quarter. Commonwealth Equity Services LLC now owns 4,381 shares of the company’s stock valued at $605,000 after acquiring an additional 277 shares during the last quarter. Redwood Investments LLC raised its stake in shares of Visteon by 15.1% in the 3rd quarter. Redwood Investments LLC now owns 96,050 shares of the company’s stock valued at $13,262,000 after acquiring an additional 12,606 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Visteon by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 596,328 shares of the company’s stock worth $82,335,000 after acquiring an additional 19,296 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Visteon by 17.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,705 shares of the company’s stock worth $788,000 after purchasing an additional 837 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.

About Visteon

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.