Visteon Corporation (NYSE:VC) Upgraded to Buy at Zacks Investment Research

Visteon Corporation (NYSE:VC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, October 18th. The firm presently has a $139.00 target price on the auto parts company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.15% from the company’s current price.

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. “

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets raised shares of Visteon Corporation from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $96.00 to $85.00 in a research note on Monday, June 26th. BidaskClub downgraded shares of Visteon Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Robert W. Baird reissued a “buy” rating and set a $143.00 target price on shares of Visteon Corporation in a research report on Tuesday, October 17th. J P Morgan Chase & Co reissued an “overweight” rating and set a $110.00 target price on shares of Visteon Corporation in a research report on Wednesday, June 21st. Finally, UBS AG downgraded shares of Visteon Corporation from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $108.00 to $113.00 in a research report on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $121.64.

Shares of Visteon Corporation (NYSE VC) traded down 0.30% during trading on Wednesday, hitting $126.19. The company had a trading volume of 268,965 shares. The stock has a market cap of $3.93 billion, a PE ratio of 30.50 and a beta of 0.85. The firm has a 50 day moving average of $123.28 and a 200 day moving average of $109.22. Visteon Corporation has a 12-month low of $67.36 and a 12-month high of $128.39.

Visteon Corporation (NYSE:VC) last posted its quarterly earnings results on Thursday, October 26th. The auto parts company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.17. Visteon Corporation had a net margin of 4.83% and a return on equity of 29.44%. The firm had revenue of $765.00 million during the quarter, compared to the consensus estimate of $761.95 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast that Visteon Corporation will post $6.13 earnings per share for the current fiscal year.

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In other Visteon Corporation news, CEO Sachin Lawande sold 2,004 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $123.90, for a total transaction of $248,295.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephanie S. Marianos sold 512 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.74, for a total transaction of $61,306.88. Following the sale, the vice president now directly owns 431 shares of the company’s stock, valued at approximately $51,607.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,375 shares of company stock worth $864,312. Corporate insiders own 0.19% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in VC. Comerica Bank bought a new stake in Visteon Corporation during the 1st quarter valued at about $232,000. UBS Asset Management Americas Inc. increased its stake in Visteon Corporation by 16.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 30,013 shares of the auto parts company’s stock valued at $2,940,000 after purchasing an additional 4,183 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Visteon Corporation by 175.3% in the first quarter. Ameriprise Financial Inc. now owns 89,339 shares of the auto parts company’s stock worth $8,751,000 after acquiring an additional 56,892 shares during the period. Legal & General Group Plc grew its stake in shares of Visteon Corporation by 9.5% in the first quarter. Legal & General Group Plc now owns 49,463 shares of the auto parts company’s stock worth $4,846,000 after acquiring an additional 4,284 shares during the period. Finally, Ngam Advisors L.P. boosted its holdings in shares of Visteon Corporation by 7.4% in the first quarter. Ngam Advisors L.P. now owns 22,048 shares of the auto parts company’s stock worth $2,160,000 after buying an additional 1,522 shares during the last quarter.

Visteon Corporation 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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