Zacks Investment Research Upgrades Visteon (NYSE:VC) to “Hold”

Zacks Investment Research upgraded shares of Visteon (NYSE:VC) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Products offered by the Company includes climate systems, powertrain control systems, engine induction systems, cockpit modules, front and rear lighting systems, engine management systems, and electronic products comprising integrated solutions, audio and infotainment, analog/digital instrument cluster, displays, control panel. Markets served by the Company include original equipment manufacturers and automotive aftermarket. Visteon Corp. is headquartered in Michigan, USA. “

A number of other research firms also recently issued reports on VC. Morgan Stanley decreased their price target on shares of Visteon from $31.00 to $28.00 and set an underweight rating on the stock in a research note on Wednesday, June 24th. JPMorgan Chase & Co. upped their price target on shares of Visteon from $52.00 to $61.00 and gave the company a neutral rating in a research note on Friday, June 19th. Citigroup boosted their price objective on shares of Visteon from $59.00 to $72.00 and gave the company a neutral rating in a research report on Monday, July 20th. Deutsche Bank boosted their price objective on shares of Visteon from $55.00 to $71.00 and gave the company a buy rating in a research report on Monday, May 4th. Finally, Barclays boosted their price objective on shares of Visteon from $80.00 to $84.00 and gave the company an overweight rating in a research report on Friday, July 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Visteon presently has a consensus rating of Hold and a consensus price target of $71.92.

Visteon stock opened at $72.61 on Wednesday. The firm’s fifty day moving average is $71.11 and its 200 day moving average is $67.62. Visteon has a 52-week low of $38.69 and a 52-week high of $105.99.

Visteon (NYSE:VC) last released its quarterly earnings results on Thursday, July 30th. The auto parts company reported ($1.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.34) by $0.90. The business had revenue of $371.00 million for the quarter, compared to analysts’ expectations of $403.70 million. Visteon’s revenue for the quarter was down 49.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS.

Institutional investors have recently modified their holdings of the business. Profund Advisors LLC grew its stake in shares of Visteon by 6.8% during the 4th quarter. Profund Advisors LLC now owns 2,688 shares of the auto parts company’s stock worth $233,000 after purchasing an additional 170 shares during the period. Moody Aldrich Partners LLC lifted its stake in Visteon by 0.6% in the first quarter. Moody Aldrich Partners LLC now owns 35,419 shares of the auto parts company’s stock valued at $1,699,000 after buying an additional 208 shares during the last quarter. Mason Street Advisors LLC lifted its stake in Visteon by 1.5% in the fourth quarter. Mason Street Advisors LLC now owns 14,874 shares of the auto parts company’s stock valued at $1,288,000 after buying an additional 214 shares during the last quarter. US Bancorp DE lifted its stake in Visteon by 15.6% in the first quarter. US Bancorp DE now owns 1,812 shares of the auto parts company’s stock valued at $87,000 after buying an additional 245 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Visteon by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,755 shares of the auto parts company’s stock valued at $180,000 after buying an additional 284 shares during the last quarter.

About Visteon

Visteon Corporation engineers, designs, and manufactures cockpit electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including standard analog gauge clusters to high-resolution, all-digital, fully reconfigurable, 2-D, and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities; and audio and infotainment systems that allows vehicle occupants to connect their mobile devices to the system and safely access phone functions, listen to music, stream media, and enable mobile connectivity applications.

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