HITE Hedge Asset Management LLC Acquires 3,788 Shares of Visteon Co. (NASDAQ:VC)

HITE Hedge Asset Management LLC grew its position in Visteon Co. (NASDAQ:VC) by 38.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,755 shares of the company’s stock after purchasing an additional 3,788 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Visteon were worth $1,310,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Visteon by 10.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,516,024 shares of the company’s stock worth $161,760,000 after purchasing an additional 137,264 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Visteon by 6.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 863,657 shares of the company’s stock worth $82,255,000 after purchasing an additional 55,465 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Visteon by 14.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 670,597 shares of the company’s stock worth $71,552,000 after purchasing an additional 83,840 shares during the last quarter. Millennium Management LLC raised its holdings in Visteon by 24.4% during the 2nd quarter. Millennium Management LLC now owns 568,536 shares of the company’s stock worth $60,663,000 after purchasing an additional 111,377 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Visteon by 1,459.9% during the 2nd quarter. American Century Companies Inc. now owns 523,521 shares of the company’s stock worth $55,860,000 after purchasing an additional 489,959 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VC. The Goldman Sachs Group dropped their price objective on Visteon from $130.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. StockNews.com cut Visteon from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $124.00 price target on shares of Visteon in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on Visteon in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Barclays dropped their price target on Visteon from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Visteon currently has an average rating of “Moderate Buy” and an average price target of $127.57.

Visteon Trading Up 2.1 %

Shares of VC stock opened at $95.36 on Tuesday. Visteon Co. has a 1 year low of $86.27 and a 1 year high of $131.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.82 and a quick ratio of 1.47. The stock’s 50 day simple moving average is $92.19 and its two-hundred day simple moving average is $100.08. The company has a market cap of $2.63 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.45 and a beta of 1.44.

Visteon (NASDAQ:VC) last issued its quarterly earnings data on Thursday, October 24th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.89 by $0.37. The firm had revenue of $980.00 million during 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%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 EPS. Research analysts predict that Visteon Co. will post 8.2 earnings per share for the current year.

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.