Visteon Corp. (VC) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Visteon Corp. (NYSE:VC) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $80.00 price target on the stock.
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. “
Several other research firms have also issued reports on VC. Deutsche Bank AG initiated coverage on shares of Visteon Corp. in a research report on Wednesday, July 20th. They issued a hold rating and a $80.00 price target for the company. FBR & Co reissued a buy rating on shares of Visteon Corp. in a research report on Sunday, September 11th. Raymond James Financial Inc. initiated coverage on shares of Visteon Corp. in a research report on Wednesday, June 22nd. They issued a market perform rating for the company. JPMorgan Chase & Co. reissued a buy rating and issued a $85.00 price target on shares of Visteon Corp. in a research report on Friday, July 29th. Finally, Robert W. Baird reissued a buy rating on shares of Visteon Corp. in a research report on Tuesday, June 28th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $88.21.
Shares of Visteon Corp. (NYSE:VC) traded up 0.71% during trading on Thursday, reaching $71.31. The company’s stock had a trading volume of 36,261 shares. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 38.71 and a beta of 1.38. Visteon Corp. has a 1-year low of $58.83 and a 1-year high of $121.65. The company’s 50-day moving average price is $71.34 and its 200 day moving average price is $72.91.
Visteon Corp. (NYSE:VC) last announced its quarterly earnings data 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 business earned $773 million during 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 firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Analysts anticipate that Visteon Corp. will post $4.45 EPS for the current year.
A number of large investors have recently bought and sold shares of VC. Iridian Asset Management LLC CT raised its stake in Visteon Corp. by 25.0% in the second quarter. Iridian Asset Management LLC CT now owns 3,056,297 shares of the company’s stock valued at $201,135,000 after buying an additional 610,595 shares during the period. Norges Bank purchased a new stake in Visteon Corp. during the fourth quarter valued at $45,275,000. Mesirow Financial Investment Management Equity Management purchased a new stake in Visteon Corp. during the second quarter valued at $18,529,000. Copper Rock Capital Partners LLC purchased a new stake in Visteon Corp. during the second quarter valued at $18,079,000. Finally, First Eagle Investment Management LLC raised its stake in Visteon Corp. by 35.7% in the second quarter. First Eagle Investment Management LLC now owns 890,212 shares of the company’s stock valued at $58,585,000 after buying an additional 234,232 shares during the period.
About Visteon Corp.
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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