Visteon (NASDAQ:VC) Price Target Cut to $104.00 by Analysts at The Goldman Sachs Group

Visteon (NASDAQ:VC) had its target price lowered by The Goldman Sachs Group from $126.00 to $104.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

VC has been the subject of a number of other research reports. Wells Fargo & Company reduced their price target on Visteon from $137.00 to $134.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. Morgan Stanley boosted their price objective on shares of Visteon from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. TD Cowen boosted their price objective on shares of Visteon from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Wall Street Zen cut shares of Visteon from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $121.00 target price on shares of Visteon in a research report on Friday, June 26th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.91.

Visteon Stock Performance

Shares of Visteon stock opened at $89.31 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.78 and a quick ratio of 1.45. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 0.58 and a beta of 1.30. The stock’s 50-day moving average is $99.79 and its 200-day moving average is $103.74. Visteon has a one year low of $83.49 and a one year high of $126.95.

Visteon (NASDAQ:VC) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.30). Visteon had a return on equity of 14.61% and a net margin of 5.58%.The firm had revenue of $960.00 million for the quarter, compared to the consensus estimate of $955.78 million. During the same quarter in the previous year, the business posted $2.39 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Equities analysts predict that Visteon will post 8.34 earnings per share for the current fiscal year.

Visteon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.3750 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.50 annualized dividend and a dividend yield of 1.7%. Visteon’s payout ratio is 19.61%.

Institutional Investors Weigh In On Visteon

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in Visteon during the second quarter worth $31,654,000. First Trust Advisors LP grew its position in shares of Visteon by 124.0% in the 1st quarter. First Trust Advisors LP now owns 519,041 shares of the company’s stock valued at $47,290,000 after acquiring an additional 287,359 shares during the period. Bank of America Corp DE grew its position in shares of Visteon by 130.1% in the 1st quarter. Bank of America Corp DE now owns 396,310 shares of the company’s stock valued at $36,108,000 after acquiring an additional 224,097 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Visteon by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock worth $127,879,000 after purchasing an additional 175,679 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Visteon by 47.2% during the 1st quarter. Renaissance Technologies LLC now owns 317,600 shares of the company’s stock worth $28,937,000 after purchasing an additional 101,900 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

About Visteon

Visteon Corporation (NASDAQ: VC) is a global automotive technology company that develops electronic systems and software for vehicle manufacturers. Its products are designed to support the digital cockpit, vehicle connectivity, electrification and advanced driver-assistance functions.

The company’s offerings include cockpit domain controllers, infotainment systems, instrument clusters, vehicle displays, telematics and connectivity solutions, climate-control electronics, and battery-management and power-conversion systems for electrified vehicles.