Visteon (NASDAQ:VC) Stock Rating Upgraded by Wells Fargo & Company

Visteon (NASDAQ:VC) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $122.00 price objective on the stock, up from their previous price objective of $115.00. Wells Fargo & Company‘s price target would suggest a potential upside of 28.02% from the stock’s current price.

Several other research firms have also recently issued reports on VC. JPMorgan Chase & Co. reduced their target price on Visteon from $144.00 to $135.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada decreased their price objective on shares of Visteon from $144.00 to $129.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. TD Cowen dropped their target price on shares of Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Morgan Stanley reduced 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 report on Wednesday, August 14th. Finally, Robert W. Baird restated a “neutral” rating and issued a $120.00 price objective (down from $137.00) on shares of Visteon in a report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.36.

Visteon Price Performance

Shares of NASDAQ:VC opened at $95.30 on Friday. The company has a 50-day moving average price of $101.40 and a two-hundred day moving average price of $107.70. Visteon has a twelve month low of $88.37 and a twelve month high of $143.97. The company has a quick ratio of 1.50, a current ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.63 billion, a PE ratio of 5.45, a P/E/G ratio of 0.44 and a beta of 1.46.

Visteon (NASDAQ:VC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $1.96 by $0.58. Visteon had a net margin of 13.79% and a return on equity of 51.69%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned $1.18 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts forecast that Visteon will post 8.06 EPS for the current year.

Insider Buying and Selling at Visteon

In other news, SVP Joao Paulo Ribeiro sold 3,859 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was 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 directly owns 5,988 shares in the company, valued at $669,039.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Visteon

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased its position in Visteon by 1,459.9% during the second quarter. American Century Companies Inc. now owns 523,521 shares of the company’s stock worth $55,860,000 after purchasing an additional 489,959 shares during the last quarter. Norges Bank acquired a new stake in shares of Visteon during the 4th quarter worth approximately $40,092,000. Victory Capital Management Inc. raised its position in shares of Visteon by 10.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,516,024 shares of the company’s stock valued at $161,760,000 after buying an additional 137,264 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Visteon by 416.5% in the fourth 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 grew its position in Visteon by 24.4% in the second quarter. Millennium Management LLC now owns 568,536 shares of the company’s stock worth $60,663,000 after acquiring an additional 111,377 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.