Visteon Corp. (VC) Rating Lowered to Hold at Zacks Investment Research
According to Zacks, “Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Products offered by the Company includes climate systems, powertrain control systems, engine induction systems, cockpit modules, front and rear lighting systems, engine management systems, and electronic products comprising integrated solutions, audio and infotainment, analog/digital instrument cluster, displays, control panel. Markets served by the Company include original equipment manufacturers and automotive aftermarket. Visteon Corp. is headquartered in Michigan, USA. “
VC has been the topic of a number of other reports. Wells Fargo & Co. restated a hold rating and issued a $72.50 price target on shares of Visteon Corp. in a research report on Monday, July 18th. Robert W. Baird restated a buy rating on shares of Visteon Corp. in a research report on Tuesday, June 28th. JPMorgan Chase & Co. reiterated a buy rating and set a $85.00 target price on shares of Visteon Corp. in a research report on Friday, July 29th. FBR & Co reiterated a buy rating and set a $90.00 target price on shares of Visteon Corp. in a research report on Sunday, June 19th. Finally, Raymond James Financial Inc. initiated coverage on shares of Visteon Corp. in a research report on Wednesday, June 22nd. They set a market perform rating on the stock. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $88.21.
Visteon Corp. (NYSE:VC) opened at 69.37 on Thursday. The firm has a 50-day moving average of $71.33 and a 200 day moving average of $72.44. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 37.66 and a beta of 1.29. Visteon Corp. has a 52-week low of $58.83 and a 52-week high of $121.65.
Visteon Corp. (NYSE:VC) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.55. The firm had revenue of $773 million for the quarter, compared to analyst estimates of $821.07 million. Visteon Corp. had a net margin of 2.22% and a return on equity of 11.55%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. On average, equities research analysts forecast that Visteon Corp. will post $4.45 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Picton Mahoney Asset Management increased its stake in shares of Visteon Corp. by 62.5% in the first quarter. Picton Mahoney Asset Management now owns 1,300 shares of the company’s stock valued at $103,000 after buying an additional 500 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Visteon Corp. during the second quarter valued at approximately $173,000. M&T Bank Corp increased its stake in shares of Visteon Corp. by 8.1% in the first quarter. M&T Bank Corp now owns 2,946 shares of the company’s stock valued at $234,000 after buying an additional 222 shares during the last quarter. Cipher Capital LP purchased a new stake in shares of Visteon Corp. during the second quarter valued at approximately $213,000. Finally, BlackRock Japan Co. Ltd purchased a new stake in shares of Visteon Corp. during the first quarter valued at approximately $277,000.
Visteon Corp. Company Profile
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures products for original equipment vehicle manufacturer (OEM) across the world, including Ford, Nissan, Renault, Mazda, BMW, General Motors and Honda. The Company’s segments include Electronics, which provides vehicle cockpit electronics products to customers, including audio systems, information displays, instrument clusters, head up displays, infotainment systems and telematics solutions, and Other, which includes entities located in Europe.
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