Wells Fargo & Company Cuts Visteon (NASDAQ:VC) Price Target to $148.00

Visteon (NASDAQ:VC) had its price target decreased by Wells Fargo & Company from $151.00 to $148.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the stock. Wall Street Zen downgraded shares of Visteon from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Barclays set a $130.00 price target on shares of Visteon in a research report on Monday, October 27th. The Goldman Sachs Group set a $150.00 price objective on shares of Visteon and gave the stock a “buy” rating in a report on Thursday, October 23rd. Bank of America lifted their price objective on shares of Visteon from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Robert W. Baird set a $141.00 target price on shares of Visteon in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Visteon has a consensus rating of “Moderate Buy” and an average target price of $133.08.

Visteon Price Performance

Shares of NASDAQ VC opened at $104.15 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.56 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $107.09 and a two-hundred day simple moving average of $108.70. Visteon has a 1-year low of $65.10 and a 1-year high of $129.10. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 2.45 and a beta of 1.14.

Visteon (NASDAQ:VC) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.08. The firm had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $945.41 million. Visteon had a return on equity of 21.85% and a net margin of 8.22%.The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.26 EPS. Analysts anticipate that Visteon will post 8.42 earnings per share for the current year.

Visteon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 18th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, November 18th. Visteon’s dividend payout ratio is presently 9.88%.

Insider Transactions at Visteon

In other Visteon news, CEO Sachin Lawande sold 595 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $110.02, for a total value of $65,461.90. Following the transaction, the chief executive officer owned 175,527 shares of the company’s stock, valued at $19,311,480.54. This represents a 0.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Visteon

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Visteon by 2.1% during the second quarter. Geode Capital Management LLC now owns 699,996 shares of the company’s stock worth $65,316,000 after acquiring an additional 14,662 shares during the period. Entropy Technologies LP raised its position in shares of Visteon by 169.5% during the 1st quarter. Entropy Technologies LP now owns 6,505 shares of the company’s stock worth $505,000 after purchasing an additional 4,091 shares during the last quarter. Cresset Asset Management LLC purchased a new position in Visteon in the 1st quarter valued at about $210,000. Nordea Investment Management AB boosted its holdings in Visteon by 26.5% in the 2nd quarter. Nordea Investment Management AB now owns 121,610 shares of the company’s stock worth $11,343,000 after buying an additional 25,467 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in Visteon in the 2nd quarter worth about $10,948,000. Institutional investors 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.