Jefferies Financial Group Begins Coverage on Visteon (VC)

Equities research analysts at Jefferies Financial Group started coverage on shares of Visteon (NYSE:VC) in a research report issued on Tuesday, The Fly reports. The brokerage set an “underperform” rating and a $69.00 price target on the auto parts company’s stock. Jefferies Financial Group’s target price would indicate a potential downside of 7.62% from the company’s previous close.

Several other equities research analysts have also recently issued reports on VC. Morgan Stanley set a $98.00 target price on shares of Visteon and gave the stock a “sell” rating in a research report on Monday, August 13th. Raymond James reiterated a “buy” rating on shares of Visteon in a research note on Monday, August 20th. Wolfe Research assumed coverage on shares of Visteon in a research note on Tuesday, October 2nd. They issued a “peer perform” rating for the company. Consumer Edge started coverage on shares of Visteon in a research note on Thursday, October 4th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and issued a $86.00 price objective (down previously from $123.00) on shares of Visteon in a report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Visteon presently has a consensus rating of “Hold” and an average price target of $128.83.

Shares of VC traded down $3.70 during mid-day trading on Tuesday, hitting $74.69. The company had a trading volume of 83,824 shares, compared to its average volume of 504,617. Visteon has a 1-year low of $67.27 and a 1-year high of $140.64.

Visteon (NYSE:VC) last released its earnings results on Thursday, October 25th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.03). The company had revenue of $681.00 million for the quarter, compared to analyst estimates of $727.48 million.

In related news, Director Rouzbeh Yassini-Fard purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was purchased at an average cost of $75.57 per share, for a total transaction of $151,140.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $151,140. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Naomi M. Bergman bought 1,000 shares of Visteon stock in a transaction dated Monday, November 12th. The shares were acquired at an average price of $78.01 per share, with a total value of $78,010.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 9,000 shares of company stock worth $691,270. 0.19% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Visteon by 103.6% in the 3rd quarter. BlackRock Inc. now owns 2,655,521 shares of the auto parts company’s stock valued at $246,698,000 after acquiring an additional 1,351,525 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Visteon by 22.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,476,560 shares of the auto parts company’s stock valued at $320,071,000 after purchasing an additional 449,197 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Visteon by 18.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,209,500 shares of the auto parts company’s stock valued at $205,263,000 after purchasing an additional 340,608 shares in the last quarter. Eagle Asset Management Inc. boosted its position in shares of Visteon by 11.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 982,679 shares of the auto parts company’s stock valued at $91,290,000 after purchasing an additional 103,289 shares in the last quarter. Finally, Waddell & Reed Financial Inc. raised its stake in Visteon by 13.0% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 773,909 shares of the auto parts company’s stock worth $100,020,000 after buying an additional 88,745 shares during the period.

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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Analyst Recommendations for Visteon (NYSE:VC)

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