Visteon (VC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Visteon (NYSE:VC) from a hold rating to a buy rating in a research report sent to investors on Saturday. Zacks Investment Research currently has $141.00 price objective on the auto parts company’s 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 equities research analysts have also recently weighed in on the stock. Longbow Research began coverage on shares of Visteon in a research note on Friday. They issued a buy rating and a $160.00 target price for the company. Guggenheim began coverage on shares of Visteon in a research note on Wednesday. They issued a buy rating and a $140.00 target price for the company. ValuEngine upgraded shares of Visteon from a hold rating to a buy rating in a research note on Sunday, December 31st. Royal Bank of Canada reiterated a hold rating and issued a $138.00 target price on shares of Visteon in a research note on Wednesday, December 20th. Finally, B. Riley reiterated a buy rating on shares of Visteon in a research note on Wednesday, November 1st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Visteon has an average rating of Buy and a consensus target price of $127.88.
Visteon (NYSE:VC) last released its earnings results on Thursday, October 26th. The auto parts company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.17. Visteon had a net margin of 4.83% and a return on equity of 29.13%. The business had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $761.95 million. During the same quarter last year, the company earned $1.10 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. sell-side analysts predict that Visteon will post 6.23 earnings per share for the current year.
In related news, CEO Sachin Lawande sold 2,500 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total value of $312,500.00. Following the completion of the transaction, the chief executive officer now owns 8,595 shares of the company’s stock, valued at $1,074,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 14,504 shares of company stock valued at $1,855,621 in the last three months. Company insiders own 0.19% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Visteon during the second quarter worth approximately $246,000. Comerica Bank increased its holdings in shares of Visteon by 428.7% during the second quarter. Comerica Bank now owns 11,907 shares of the auto parts company’s stock worth $1,287,000 after buying an additional 9,655 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Visteon by 64.6% during the second quarter. BNP Paribas Arbitrage SA now owns 1,340 shares of the auto parts company’s stock worth $137,000 after buying an additional 526 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Visteon during the second quarter worth approximately $5,021,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Visteon by 29.3% during the second quarter. JPMorgan Chase & Co. now owns 175,085 shares of the auto parts company’s stock worth $17,869,000 after buying an additional 39,689 shares in the last quarter.
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Visteon Company Profile
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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