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

Visteon (NASDAQ:VC) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Friday, Briefing.com reports. The brokerage currently has a $122.00 price objective on the stock, up from their prior price objective of $115.00. Wells Fargo & Company‘s price target suggests a potential upside of 28.22% from the stock’s current price.

VC has been the topic of several other reports. Morgan Stanley decreased their price target on shares of Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price target on Visteon from $144.00 to $135.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group dropped their target price on Visteon from $161.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird reissued a “neutral” rating and set a $120.00 price target (down previously from $137.00) on shares of Visteon in a research report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $124.00 price objective on shares of Visteon in a report on Tuesday, September 10th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Visteon presently has an average rating of “Moderate Buy” and a consensus target price of $130.36.

Visteon Stock Up 3.0 %

VC stock opened at $95.15 on Friday. The firm has a market cap of $2.63 billion, a PE ratio of 5.44, a P/E/G ratio of 0.44 and a beta of 1.46. The firm’s fifty day moving average is $101.97 and its 200 day moving average is $107.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.50 and a current ratio of 1.85. Visteon has a one year low of $88.37 and a one year high of $143.97.

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

Insider Buying and Selling

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the sale, the senior vice president now owns 5,988 shares in the company, valued at approximately $669,039.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Visteon

Hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama grew its holdings in shares of Visteon by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 34,923 shares of the company’s stock worth $4,107,000 after acquiring an additional 91 shares during the period. State of Michigan Retirement System raised its stake in Visteon by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 6,807 shares of the company’s stock valued at $801,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC lifted its holdings in Visteon by 70.8% in the 2nd quarter. Signaturefd LLC now owns 287 shares of the company’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Visteon by 98.6% during the 4th quarter. Parallel Advisors LLC now owns 286 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of Visteon by 2.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,711 shares of the company’s stock worth $909,000 after buying an additional 171 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

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.