Visteon (NASDAQ:VC) Sets New 12-Month Low – Here’s What Happened

Visteon Co. (NASDAQ:VC) hit a new 52-week low during trading on Wednesday . The stock traded as low as $85.83 and last traded at $86.63, with a volume of 273121 shares trading hands. The stock had previously closed at $89.69.

Analyst Ratings Changes

VC has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target on Visteon from $122.00 to $119.00 and set an “overweight” rating on the stock in a research report on Monday. StockNews.com lowered shares of Visteon from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $124.00 price target on shares of Visteon in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on shares of Visteon in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Barclays cut their target price on shares of Visteon from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.15.

Visteon Stock Performance

The company has a fifty day moving average of $91.68 and a two-hundred day moving average of $98.22. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 4.65, a PEG ratio of 0.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.47 and a current ratio of 1.82.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, October 24th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.37. The company had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.60 million. Visteon had a net margin of 13.22% and a return on equity of 46.19%. Visteon’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 earnings per share. As a group, equities research analysts predict that Visteon Co. will post 8.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Visteon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VC. Signaturefd LLC lifted its holdings in shares of Visteon by 70.8% during the 2nd quarter. Signaturefd LLC now owns 287 shares of the company’s stock worth $31,000 after acquiring an additional 119 shares during the period. KBC Group NV boosted its stake in Visteon by 37.7% in the third quarter. KBC Group NV now owns 902 shares of the company’s stock valued at $86,000 after buying an additional 247 shares in the last quarter. Acadian Asset Management LLC bought a new position in Visteon in the second quarter valued at about $89,000. nVerses Capital LLC raised its stake in Visteon by 22.2% during the second quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $117,000 after acquiring an additional 200 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Visteon by 14.8% in the third quarter. Covestor Ltd now owns 1,567 shares of the company’s stock worth $149,000 after acquiring an additional 202 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Visteon Company Profile

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.