Wells Fargo & Company Cuts Visteon (NASDAQ:VC) Price Target to $119.00

Visteon (NASDAQ:VC) had its price objective decreased by Wells Fargo & Company from $122.00 to $119.00 in a research note issued to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on VC. Wolfe Research started coverage on Visteon in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Barclays dropped their target price on shares of Visteon from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. The Goldman Sachs Group decreased their price target on shares of Visteon from $130.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. StockNews.com lowered shares of Visteon from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $124.00 target price on shares of Visteon in a research note on Tuesday, September 10th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.15.

Visteon Stock Performance

Shares of NASDAQ:VC opened at $86.50 on Monday. The firm has a 50 day moving average of $91.95 and a 200 day moving average of $98.49. The company has a quick ratio of 1.47, a current ratio of 1.82 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 4.70, a price-to-earnings-growth ratio of 0.44 and a beta of 1.44. Visteon has a 52 week low of $85.83 and a 52 week high of $131.43.

Visteon (NASDAQ:VC) last posted its earnings results on Thursday, October 24th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.37. The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.60 million. Visteon had a return on equity of 46.19% and a net margin of 13.22%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 earnings per share. On average, sell-side analysts predict that Visteon will post 8.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Visteon

Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Visteon by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 274,365 shares of the company’s stock worth $26,131,000 after purchasing an additional 8,500 shares during the last quarter. Mirabella Financial Services LLP boosted its position in Visteon by 361.3% during the third quarter. Mirabella Financial Services LLP now owns 17,096 shares of the company’s stock worth $1,628,000 after acquiring an additional 13,390 shares during the last quarter. Royce & Associates LP boosted its position in Visteon by 28.2% during the third quarter. Royce & Associates LP now owns 202,214 shares of the company’s stock worth $19,259,000 after acquiring an additional 44,460 shares during the last quarter. Systematic Financial Management LP grew its stake in Visteon by 11.8% during the 3rd quarter. Systematic Financial Management LP now owns 259,641 shares of the company’s stock valued at $24,728,000 after acquiring an additional 27,403 shares in the last quarter. Finally, 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. 99.71% of the stock is currently 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.