Visteon (NASDAQ:VC) Shares Gap Up to $111.05

Visteon Co. (NASDAQ:VC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $111.05, but opened at $113.80. Visteon shares last traded at $109.89, with a volume of 503 shares.

A number of research firms have weighed in on VC. Zacks Investment Research cut shares of Visteon from a “buy” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Visteon from $166.00 to $162.00 and set a “buy” rating for the company in a research report on Thursday, July 15th. KeyCorp started coverage on shares of Visteon in a research report on Thursday, April 15th. They set a “sector weight” rating for the company. Wells Fargo & Company started coverage on shares of Visteon in a research report on Thursday, March 25th. They issued an “underweight” rating and a $106.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Visteon from $65.00 to $71.00 and gave the company an “underweight” rating in a research report on Friday, April 30th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Visteon currently has a consensus rating of “Hold” and a consensus target price of $116.33.

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.42 and a current ratio of 1.67. The company has a market capitalization of $3.03 billion, a P/E ratio of -519.62 and a beta of 2.02. The stock has a 50 day moving average price of $118.34.

Visteon (NASDAQ:VC) last posted its quarterly earnings data 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 negative net margin of 0.19% and a positive return on equity of 8.86%. The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $709.65 million. Equities analysts anticipate that Visteon Co. will post 2.85 earnings per share for the current fiscal year.

In other Visteon news, SVP Robert R. Vallance sold 4,916 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The shares were 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 of the company’s stock, valued at $1,564,597.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert R. Vallance sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $130.00, for a total transaction of $647,400.00. Following the sale, the senior vice president now directly owns 11,871 shares in the company, valued at approximately $1,543,230. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its holdings in shares of Visteon by 43.6% in the 1st quarter. Ameriprise Financial Inc. now owns 1,094,502 shares of the company’s stock valued at $133,476,000 after acquiring an additional 332,422 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Visteon by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 781,539 shares of the company’s stock valued at $95,308,000 after acquiring an additional 19,540 shares during the period. Waddell & Reed Financial Inc. increased its holdings in shares of Visteon by 4.2% in the 1st quarter. Waddell & Reed Financial Inc. now owns 696,602 shares of the company’s stock valued at $84,951,000 after acquiring an additional 27,761 shares during the period. Geode Capital Management LLC increased its holdings in shares of Visteon by 7.6% in the 1st quarter. Geode Capital Management LLC now owns 475,657 shares of the company’s stock valued at $58,006,000 after acquiring an additional 33,788 shares during the period. Finally, Norges Bank purchased a new position in Visteon in the 4th quarter valued at $38,314,000.

About Visteon (NASDAQ:VC)

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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