Visteon (NYSE:VC) Downgraded by UBS Group to Sell

UBS Group lowered shares of Visteon (NYSE:VC) from a neutral rating to a sell rating in a report published on Thursday, The Fly reports. The firm currently has $61.00 price objective on the auto parts company’s stock, down from their previous price objective of $66.00.

Several other research firms also recently commented on VC. Longbow Research set a $85.00 price objective on shares of Visteon and gave the company a buy rating in a report on Tuesday, June 11th. Cowen set a $72.00 price target on shares of Visteon and gave the company a buy rating in a report on Friday, July 19th. Royal Bank of Canada set a $65.00 price target on shares of Visteon and gave the company a hold rating in a report on Friday, July 26th. Robert W. Baird increased their price target on shares of Visteon from $65.00 to $81.00 and gave the company an outperform rating in a report on Friday, July 26th. Finally, Barclays set a $60.00 price target on shares of Visteon and gave the company a hold rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $73.53.

VC stock traded down $0.27 during trading on Thursday, reaching $81.08. The company’s stock had a trading volume of 248,696 shares, compared to its average volume of 615,643. Visteon has a 1 year low of $44.04 and a 1 year high of $108.42. The company’s fifty day moving average is $66.62 and its 200-day moving average is $64.86.

Visteon (NYSE:VC) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.07). The business had revenue of $733.00 million during the quarter, compared to analyst estimates of $719.55 million. During the same period in the previous year, the firm earned $1.37 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year.

In other news, Director Harry James Wilson acquired 2,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was acquired at an average price of $53.92 per share, with a total value of $107,840.00. Following the completion of the purchase, the director now directly owns 12,000 shares in the company, valued at $647,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Visteon by 17.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,635,289 shares of the auto parts company’s stock worth $271,535,000 after purchasing an additional 672,851 shares during the last quarter. BlackRock Inc. increased its position in shares of Visteon by 24.8% during the second quarter. BlackRock Inc. now owns 3,204,560 shares of the auto parts company’s stock worth $187,725,000 after acquiring an additional 635,794 shares during the period. Invesco Ltd. increased its position in shares of Visteon by 200.1% during the second quarter. Invesco Ltd. now owns 2,588,284 shares of the auto parts company’s stock worth $151,622,000 after acquiring an additional 1,725,726 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Visteon by 6.4% during the first quarter. Artisan Partners Limited Partnership now owns 676,480 shares of the auto parts company’s stock worth $45,561,000 after acquiring an additional 40,940 shares during the period. Finally, Marathon Asset Management LLP purchased a new position in shares of Visteon during the second quarter worth approximately $37,219,000.

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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