Visteon (NASDAQ:VC) Upgraded to Overweight by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Visteon (NASDAQ:VC) from an equal weight rating to an overweight rating in a research note released on Friday morning, Marketbeat.com reports. The brokerage currently has $122.00 price objective on the stock, up from their prior price objective of $115.00.

Several other equities analysts also recently issued reports on VC. Citigroup cut their target price on Visteon from $139.00 to $126.00 and set a buy rating on the stock in a research report on Friday, July 12th. TD Cowen cut their target price on Visteon from $142.00 to $140.00 and set a buy rating on the stock in a research report on Friday, July 26th. Wolfe Research assumed coverage on shares of Visteon in a report on Thursday, September 5th. They issued a peer perform rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a $124.00 price target on shares of Visteon in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group lowered their price target on shares of Visteon from $161.00 to $133.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Visteon presently has a consensus rating of Moderate Buy and a consensus target price of $130.36.

Visteon Price Performance

NASDAQ VC opened at $95.30 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.85 and a quick ratio of 1.50. The stock’s fifty day moving average price is $101.40 and its 200 day moving average price is $107.64. Visteon has a 1 year low of $88.37 and a 1 year high of $143.97. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 0.44 and a beta of 1.46.

Visteon (NASDAQ:VC) last released its earnings results on Thursday, July 25th. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.58. Visteon had a return on equity of 51.69% and a net margin of 13.79%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.18 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Visteon will post 8.06 earnings per share for the current year.

Insider Activity at Visteon

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $111.73, for a total value of $431,166.07. Following the transaction, the senior vice president now directly owns 5,988 shares of the company’s stock, valued at approximately $669,039.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in Visteon by 1,459.9% in the 2nd quarter. American Century Companies Inc. now owns 523,521 shares of the company’s stock valued at $55,860,000 after acquiring an additional 489,959 shares during the last quarter. Norges Bank acquired a new stake in Visteon in the 4th quarter valued at about $40,092,000. Victory Capital Management Inc. raised its holdings in Visteon by 10.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,516,024 shares of the company’s stock valued at $161,760,000 after acquiring an additional 137,264 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Visteon by 416.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 149,070 shares of the company’s stock valued at $18,619,000 after acquiring an additional 120,210 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Visteon by 24.4% in the 2nd quarter. Millennium Management LLC now owns 568,536 shares of the company’s stock valued at $60,663,000 after acquiring an additional 111,377 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

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.