Wells Fargo & Company Issues Pessimistic Forecast for Visteon (NASDAQ:VC) Stock Price

Visteon (NASDAQ:VC) had its price objective reduced by equities researchers at Wells Fargo & Company from $125.00 to $124.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 39.30% from the company’s previous close.

VC has been the topic of a number of other research reports. Royal Bank Of Canada reduced their price objective on Visteon from $140.00 to $127.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Morgan Stanley upped their price objective on Visteon from $95.00 to $114.00 and gave the company an “equal weight” rating in a research report on Monday, December 8th. JPMorgan Chase & Co. reduced their target price on shares of Visteon from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, March 9th. Deutsche Bank Aktiengesellschaft set a $117.00 price objective on shares of Visteon in a research note on Friday, February 20th. Finally, UBS Group cut their price target on Visteon from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.25.

Visteon Stock Up 3.9%

Shares of VC stock traded up $3.31 during mid-day trading on Tuesday, hitting $89.02. The company’s stock had a trading volume of 79,565 shares, compared to its average volume of 577,453. The business has a 50-day moving average price of $93.77 and a 200 day moving average price of $102.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.53 and a current ratio of 1.80. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 1.07 and a beta of 1.15. Visteon has a 52-week low of $65.10 and a 52-week high of $129.10.

Visteon (NASDAQ:VC) last issued its quarterly earnings data on Thursday, February 19th. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.08 by $0.88. Visteon had a return on equity of 17.94% and a net margin of 6.93%.The company had revenue of $948.00 million during the quarter, compared to analyst estimates of $920.25 million. During the same quarter in the previous year, the company posted $4.44 earnings per share. Visteon’s revenue was up 1.0% compared to the same quarter last year. Research analysts predict that Visteon will post 8.42 EPS for the current fiscal year.

Insider Activity at Visteon

In related news, CEO Sachin Lawande sold 49,453 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the sale, the chief executive officer directly owned 175,527 shares in the company, valued at approximately $16,401,242.88. This represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Visteon

Institutional investors and hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in Visteon during the third quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its position in shares of Visteon by 144.1% during the 4th quarter. Farther Finance Advisors LLC now owns 288 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Visteon in the 3rd quarter valued at $44,000. Plato Investment Management Ltd purchased a new position in shares of Visteon in the 3rd quarter valued at $48,000. Finally, Hantz Financial Services Inc. raised its stake in Visteon by 72.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock worth $51,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

About Visteon

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.