Wells Fargo & Company Cuts Visteon (NASDAQ:VC) Price Target to $119.00

Visteon (NASDAQ:VC) had its target price lowered by equities researchers at Wells Fargo & Company from $122.00 to $119.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 26.60% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Wolfe Research started coverage on Visteon in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Royal Bank of Canada cut their target price on Visteon from $129.00 to $124.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. StockNews.com lowered Visteon from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $124.00 target price on shares of Visteon in a research report on Tuesday, September 10th. Finally, Barclays cut their target price on Visteon from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.15.

Visteon Price Performance

VC opened at $94.00 on Monday. The stock’s 50-day moving average price is $92.10 and its 200 day moving average price is $98.86. Visteon has a 12-month low of $86.27 and a 12-month high of $131.43. The company has a current ratio of 1.82, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 5.10, a PEG ratio of 0.44 and a beta of 1.44.

Visteon (NASDAQ:VC) last posted its quarterly earnings results on Thursday, October 24th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.37. The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.60 million. Visteon had a return on equity of 46.19% and a net margin of 13.22%. Visteon’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 EPS. As a group, sell-side analysts expect that Visteon will post 8.2 earnings per share for the current year.

Institutional Trading of Visteon

Hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its holdings in Visteon by 70.8% during the second quarter. Signaturefd LLC now owns 287 shares of the company’s stock worth $31,000 after purchasing an additional 119 shares during the last quarter. Franklin Resources Inc. raised its holdings in Visteon by 0.8% during the third quarter. Franklin Resources Inc. now owns 20,620 shares of the company’s stock worth $1,881,000 after purchasing an additional 171 shares during the last quarter. nVerses Capital LLC raised its holdings in Visteon by 22.2% during the second quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $117,000 after purchasing an additional 200 shares during the last quarter. Covestor Ltd raised its holdings in Visteon by 14.8% during the third quarter. Covestor Ltd now owns 1,567 shares of the company’s stock worth $149,000 after purchasing an additional 202 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Visteon by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 3,221 shares of the company’s stock worth $306,000 after purchasing an additional 215 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.