Longbow Research Begins Coverage on Visteon (VC)

Longbow Research initiated coverage on shares of Visteon (NYSE:VC) in a research note released on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $160.00 target price on the auto parts company’s stock.

Several other analysts also recently weighed in on the stock. BMO Capital Markets upgraded shares of Visteon from a market perform rating to an outperform rating and lifted their price objective for the company from $104.00 to $115.00 in a research report on Friday, September 22nd. Zacks Investment Research upgraded shares of Visteon from a hold rating to a buy rating and set a $139.00 price target on the stock in a research report on Wednesday, September 27th. Jefferies Group assumed coverage on shares of Visteon in a report on Thursday, September 28th. They issued a hold rating and a $135.00 target price on the stock. Royal Bank of Canada reissued a hold rating and issued a $115.00 target price on shares of Visteon in a research report on Tuesday, October 3rd. Finally, Robert W. Baird reissued a buy rating and issued a $143.00 target price on shares of Visteon in a research report on Tuesday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Visteon currently has an average rating of Buy and a consensus price target of $127.88.

Visteon (NYSE:VC) opened at $136.74 on Friday. The stock has a market cap of $56.21, a PE ratio of 26.15, a P/E/G ratio of 1.34 and a beta of 0.86. Visteon has a 1-year low of $81.46 and a 1-year high of $137.13. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47.

Visteon (NYSE:VC) last announced its earnings results on Thursday, October 26th. The auto parts company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $765.00 million for the quarter, compared to analyst estimates of $761.95 million. During the same quarter last year, the business earned $1.10 earnings per share. Visteon’s revenue was down .6% compared to the same quarter last year. analysts predict that Visteon will post 6.23 EPS for the current fiscal year.

In related news, CEO Sachin Lawande sold 2,004 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $123.90, for a total transaction of $248,295.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 14,504 shares of company stock worth $1,855,621 over the last ninety days. 0.19% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new position in Visteon in the second quarter worth approximately $78,611,000. Bank of New York Mellon Corp grew its stake in shares of Visteon by 34.8% in the third quarter. Bank of New York Mellon Corp now owns 1,804,109 shares of the auto parts company’s stock worth $223,294,000 after acquiring an additional 465,508 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Visteon by 182.1% in the second quarter. Ameriprise Financial Inc. now owns 252,028 shares of the auto parts company’s stock worth $25,721,000 after acquiring an additional 162,689 shares in the last quarter. Standard Life Investments LTD grew its stake in shares of Visteon by 6.6% during the second quarter. Standard Life Investments LTD now owns 2,021,035 shares of the auto parts company’s stock worth $206,278,000 after purchasing an additional 124,361 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in Visteon by 155.0% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 171,611 shares of the auto parts company’s stock valued at $21,240,000 after acquiring an additional 104,302 shares in the last quarter.

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About Visteon

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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