Visteon Corporation (NYSE:VC) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Friday, May 12th, MarketBeat reports. The firm presently has a $115.00 price objective on the auto parts company’s stock. Morgan Stanley’s target price indicates a potential upside of 24.50% from the stock’s current price.
VC has been the subject of several other research reports. Goldman Sachs Group, Inc. (The) began coverage on shares of Visteon Corporation in a research report on Monday, April 3rd. They issued a “buy” rating and a $104.00 price target for the company. Zacks Investment Research downgraded shares of Visteon Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, February 11th. Citigroup Inc. downgraded shares of Visteon Corporation from a “buy” rating to a “neutral” rating and upped their price target for the company from $87.00 to $97.00 in a research report on Monday, February 27th. They noted that the move was a valuation call. BMO Capital Markets reduced their price target on shares of Visteon Corporation from $104.00 to $95.00 and set a “market perform” rating for the company in a research report on Wednesday, May 3rd. Finally, FBR & Co upped their price target on shares of Visteon Corporation from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Visteon Corporation presently has a consensus rating of “Hold” and an average price target of $97.63.
Visteon Corporation (NYSE VC) traded down 2.93% during trading on Friday, reaching $92.37. The company’s stock had a trading volume of 884,543 shares. The stock’s 50 day moving average is $100.56 and its 200-day moving average is $93.04. The firm has a market cap of $2.93 billion, a P/E ratio of 26.37 and a beta of 0.82. Visteon Corporation has a 52 week low of $63.04 and a 52 week high of $106.95.
Visteon Corporation (NYSE:VC) last released its quarterly earnings results on Thursday, April 27th. The auto parts company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.39 by $0.34. Visteon Corporation had a net margin of 3.76% and a return on equity of 26.74%. The firm had revenue of $810 million during the quarter, compared to the consensus estimate of $806.69 million. During the same quarter in the prior year, the firm earned $1.22 EPS. Visteon Corporation’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Visteon Corporation will post $5.79 earnings per share for the current fiscal year.
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In other news, Director Robert Manzo acquired 2,000 shares of the company’s stock in a transaction on Friday, March 24th. The shares were bought at an average cost of $95.70 per share, with a total value of $191,400.00. Following the purchase, the director now owns 2,000 shares of the company’s stock, valued at approximately $191,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.
A number of institutional investors have recently made changes to their positions in VC. Independent Portfolio Consultants Inc. boosted its position in Visteon Corporation by 47.9% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,080 shares of the auto parts company’s stock worth $106,000 after buying an additional 350 shares during the period. James Investment Research Inc. bought a new position in Visteon Corporation during the first quarter worth $157,000. Creative Planning boosted its position in Visteon Corporation by 29.4% in the first quarter. Creative Planning now owns 1,820 shares of the auto parts company’s stock worth $178,000 after buying an additional 414 shares during the period. World Asset Management Inc bought a new position in Visteon Corporation during the first quarter worth $201,000. Finally, KCG Holdings Inc. bought a new position in Visteon Corporation during the first quarter worth $209,000.
About Visteon Corporation
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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