Zacks Investment Research Lowers Visteon Corp. (VC) to Hold
Visteon Corp. (NYSE:VC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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 several other reports. Wells Fargo & Co. restated a “hold” rating and set a $72.50 target price on shares of Visteon Corp. in a report on Monday, July 18th. Robert W. Baird restated a “buy” rating on shares of Visteon Corp. in a report on Tuesday, June 28th. JPMorgan Chase & Co. restated a “buy” rating and set a $85.00 target price on shares of Visteon Corp. in a report on Friday, July 29th. FBR & Co restated a “buy” rating and set a $90.00 target price on shares of Visteon Corp. in a report on Sunday, June 19th. Finally, Raymond James Financial Inc. assumed coverage on Visteon Corp. in a report on Wednesday, June 22nd. They set a “market perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $88.21.
Shares of Visteon Corp. (NYSE:VC) opened at 69.94 on Thursday. The stock’s 50 day moving average price is $71.38 and its 200-day moving average price is $72.70. The firm has a market capitalization of $2.38 billion, a PE ratio of 37.97 and a beta of 1.29. Visteon Corp. has a 12 month low of $58.83 and a 12 month high of $121.65.
Visteon Corp. (NYSE:VC) last posted its earnings results on Thursday, July 28th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.55. Visteon Corp. had a return on equity of 11.55% and a net margin of 2.22%. The company had revenue of $773 million for the quarter, compared to analyst estimates of $821.07 million. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue was down 4.8% compared to the same quarter last year. On average, equities analysts anticipate that Visteon Corp. will post $4.45 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its stake in Visteon Corp. by 62.5% in the first quarter. Picton Mahoney Asset Management now owns 1,300 shares of the company’s stock worth $103,000 after buying an additional 500 shares during the period. Pacer Advisors Inc. purchased a new stake in Visteon Corp. during the second quarter worth $173,000. M&T Bank Corp increased its stake in Visteon Corp. by 8.1% in the first quarter. M&T Bank Corp now owns 2,946 shares of the company’s stock worth $234,000 after buying an additional 222 shares during the period. Cipher Capital LP purchased a new stake in Visteon Corp. during the second quarter worth $213,000. Finally, BlackRock Japan Co. Ltd purchased a new stake in Visteon Corp. during the first quarter worth $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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