Visteon Corp (VC) Sees Large Growth in Short Interest

Visteon Corp (NYSE:VC) was the target of a large growth in short interest in December. As of December 29th, there was short interest totalling 946,185 shares, a growth of Infinity from the December 15th total of 0 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 155,187 shares, the days-to-cover ratio is currently 6.1 days.

Visteon (VC) opened at $131.50 on Wednesday. Visteon has a one year low of $86.10 and a one year high of $140.64. The firm has a market cap of $4,090.00, a P/E ratio of 25.14, a P/E/G ratio of 1.34 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 1.97.

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

Visteon declared that its board has authorized a stock repurchase program on Tuesday, January 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several research firms have weighed in on VC. Guggenheim restated a “buy” rating and issued a $154.00 price objective on shares of Visteon in a research report on Wednesday, January 10th. Zacks Investment Research raised shares of Visteon from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a research note on Saturday, January 6th. B. Riley raised their target price on shares of Visteon from $140.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Longbow Research initiated coverage on shares of Visteon in a research note on Friday, January 5th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $138.00 target price on shares of Visteon in a research note on Wednesday, December 20th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $132.31.

In other Visteon news, CEO Sachin Lawande sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $126.05, for a total value of $315,125.00. Following the completion of the sale, the chief executive officer now owns 8,595 shares in the company, valued at approximately $1,083,399.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 15,000 shares of company stock valued at $1,932,325 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in VC. Tower Research Capital LLC TRC lifted its stake in Visteon by 2,531.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,000 shares of the auto parts company’s stock valued at $102,000 after buying an additional 962 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Visteon by 6.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock valued at $106,000 after buying an additional 61 shares in the last quarter. Quantbot Technologies LP lifted its stake in Visteon by 2.8% in the second quarter. Quantbot Technologies LP now owns 1,089 shares of the auto parts company’s stock valued at $111,000 after buying an additional 30 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Visteon by 64.6% in the second quarter. BNP Paribas Arbitrage SA now owns 1,340 shares of the auto parts company’s stock valued at $137,000 after buying an additional 526 shares in the last quarter. Finally, Riverhead Capital Management LLC bought a new position in Visteon in the second quarter valued at approximately $153,000.

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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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