Zacks Investment Research upgraded shares of Visteon (NYSE:VC) from a hold rating to a buy rating in a report issued on Saturday, January 6th. The brokerage currently has $141.00 target price on the auto parts company’s stock.
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 brokerages also recently issued reports on VC. Barclays set a $107.00 price target on Visteon and gave the company a hold rating in a report on Friday, October 20th. Robert W. Baird reaffirmed a buy rating and set a $143.00 price target on shares of Visteon in a report on Tuesday, October 17th. Royal Bank of Canada reissued a hold rating and issued a $138.00 target price on shares of Visteon in a report on Wednesday, December 20th. Guggenheim started coverage on Visteon in a report on Wednesday, January 3rd. They issued a buy rating and a $140.00 target price on the stock. Finally, FBR & Co increased their target price on Visteon from $120.00 to $140.00 and gave the company a buy rating in a report on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $134.25.
Shares of Visteon (VC) traded down $1.31 during trading hours on Friday, hitting $130.03. The stock had a trading volume of 242,726 shares, compared to its average volume of 258,523. The company has a market capitalization of $4,040.00, a P/E ratio of 24.86, a P/E/G ratio of 1.34 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 1.97. Visteon has a 1 year low of $87.25 and a 1 year high of $140.64.
Visteon announced that its Board of Directors has approved a share repurchase program on Tuesday, January 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Visteon news, CEO Sachin Lawande sold 5,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $130.94, for a total value of $654,700.00. Following the completion of the sale, the chief executive officer now owns 8,595 shares in the company, valued at $1,125,429.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 12,500 shares of company stock valued at $1,617,200. Company insiders own 0.19% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP increased its position in Visteon by 2.8% in the second quarter. Quantbot Technologies LP now owns 1,089 shares of the auto parts company’s stock worth $111,000 after buying an additional 30 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Visteon by 6.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock worth $106,000 after buying an additional 61 shares in the last quarter. ETRADE Capital Management LLC increased its position in Visteon by 5.2% in the second quarter. ETRADE Capital Management LLC now owns 5,261 shares of the auto parts company’s stock worth $537,000 after buying an additional 261 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Visteon by 3.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 11,184 shares of the auto parts company’s stock worth $1,384,000 after buying an additional 412 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Visteon by 32.3% in the third quarter. BNP Paribas Arbitrage SA now owns 1,773 shares of the auto parts company’s stock worth $219,000 after buying an additional 433 shares in the last quarter.
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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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