Massachusetts Financial Services Co. MA Acquires 55,465 Shares of Visteon Co. (NASDAQ:VC)

Massachusetts Financial Services Co. MA grew its holdings in shares of Visteon Co. (NASDAQ:VC) by 6.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 863,657 shares of the company’s stock after purchasing an additional 55,465 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Visteon were worth $82,255,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Visteon by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,929,339 shares of the company’s stock worth $344,520,000 after acquiring an additional 48,457 shares in the last quarter. Shell Asset Management Co. raised its holdings in shares of Visteon by 31.2% during the first quarter. Shell Asset Management Co. now owns 1,993 shares of the company’s stock valued at $234,000 after purchasing an additional 474 shares during the period. Gabelli Funds LLC boosted its position in shares of Visteon by 16.7% during the 1st quarter. Gabelli Funds LLC now owns 14,000 shares of the company’s stock worth $1,647,000 after purchasing an additional 2,000 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Visteon in the 1st quarter valued at about $583,000. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Visteon by 30.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 70,353 shares of the company’s stock valued at $8,274,000 after buying an additional 16,319 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.

Visteon Stock Performance

Shares of VC opened at $92.01 on Monday. The stock has a 50 day moving average of $92.23 and a 200 day moving average of $100.89. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 0.45 and a beta of 1.45. Visteon Co. has a 12 month low of $86.27 and a 12 month high of $131.70. The company has a current ratio of 1.82, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on VC shares. Royal Bank of Canada cut their price target on Visteon from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group reduced their price target on shares of Visteon from $130.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $124.00 price objective on shares of Visteon in a report on Tuesday, September 10th. Wolfe Research began coverage on shares of Visteon in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $115.00 to $122.00 in a report on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $127.57.

Visteon 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.