Visteon (NASDAQ:VC) Downgraded by Zacks Investment Research

Visteon (NASDAQ:VC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, 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. “

Several other research firms also recently issued reports on VC. Wells Fargo & Company initiated coverage on Visteon in a report on Thursday, March 25th. They issued an “underweight” rating and a $106.00 price objective on the stock. Morgan Stanley boosted their price objective on Visteon from $65.00 to $71.00 and gave the company an “underweight” rating in a report on Friday, April 30th. Barclays cut their price objective on Visteon from $132.00 to $128.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 7th. KeyCorp initiated coverage on Visteon in a report on Thursday, April 15th. They issued a “sector weight” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Visteon from $166.00 to $162.00 and set a “buy” rating on the stock in a report on Thursday, July 15th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $116.33.

Shares of Visteon stock opened at $111.05 on Wednesday. Visteon has a 52 week low of $64.22 and a 52 week high of $147.55. The company has a fifty day simple moving average of $118.34. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -528.81 and a beta of 2.02. The company has a current ratio of 1.67, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69.

Visteon (NASDAQ:VC) last announced its quarterly earnings results on Thursday, April 29th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.23. Visteon had a positive return on equity of 8.86% and a negative net margin of 0.19%. The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $709.65 million. On average, research analysts expect that Visteon will post 2.85 earnings per share for the current year.

In other Visteon news, SVP Robert R. Vallance sold 4,916 shares of the company’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $131.80, for a total transaction of $647,928.80. Following the sale, the senior vice president now owns 11,871 shares in the company, valued at approximately $1,564,597.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VC. Lazard Asset Management LLC purchased a new position in shares of Visteon in the 4th quarter valued at about $26,000. Concord Wealth Partners increased its holdings in shares of Visteon by 3,338.9% in the 1st quarter. Concord Wealth Partners now owns 619 shares of the company’s stock valued at $75,000 after acquiring an additional 601 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Visteon in the 1st quarter valued at about $181,000. Quantbot Technologies LP purchased a new position in shares of Visteon in the 1st quarter valued at about $220,000. Finally, Jane Street Group LLC purchased a new position in shares of Visteon in the 4th quarter valued at about $221,000.

Visteon Company Profile

Visteon Corporation engineers, designs, and manufactures automotive 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, such as 3-D, dual view, cameras, optics, haptic feedback, light effects, and dual displays; and Phoenix, a display audio and embedded infotainment platform, as well as onboard artificial intelligence based voice assistant.

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