Wells Fargo & Company Upgrades Visteon (NASDAQ:VC) to Equal Weight

Visteon (NASDAQ:VC) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a report issued on Friday, MarketBeat.com reports. The firm presently has a $108.00 target price on the stock, up from their previous target price of $106.00. Wells Fargo & Company‘s price objective indicates a potential downside of 1.51% from the stock’s current price.

Other analysts have also recently issued reports about the company. Royal Bank of Canada cut their price objective on Visteon from $188.00 to $146.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Barclays upgraded Visteon from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $145.00 in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price objective on Visteon from $146.00 to $145.00 and set a “neutral” rating for the company in a report on Monday. Guggenheim dropped their target price on shares of Visteon from $136.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Visteon in a research note on Thursday, January 4th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.90.

Visteon Price Performance

Shares of Visteon stock opened at $109.66 on Friday. The company’s fifty day simple moving average is $113.72 and its two-hundred day simple moving average is $118.59. Visteon has a 12-month low of $105.19 and a 12-month high of $159.87. The firm has a market cap of $3.01 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 0.50 and a beta of 1.65. The company has a quick ratio of 1.42, a current ratio of 1.74 and a debt-to-equity ratio of 0.28.

Visteon (NASDAQ:VC) last announced its earnings results on Tuesday, February 20th. The company reported $13.01 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $10.92. The company had revenue of $990.00 million during the quarter, compared to the consensus estimate of $1.05 billion. Visteon had a return on equity of 57.45% and a net margin of 12.29%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 earnings per share. As a group, equities analysts expect that Visteon will post 8.68 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Covestor Ltd increased its position in shares of Visteon by 105.7% during the third quarter. Covestor Ltd now owns 216 shares of the company’s stock valued at $30,000 after acquiring an additional 111 shares in the last quarter. Parallel Advisors LLC boosted its stake in Visteon by 98.6% during the 4th quarter. Parallel Advisors LLC now owns 286 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the last quarter. CWM LLC increased its holdings in shares of Visteon by 53.6% in the 4th quarter. CWM LLC now owns 401 shares of the company’s stock worth $50,000 after purchasing an additional 140 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Visteon by 76.7% in the fourth quarter. Quadrant Capital Group LLC now owns 410 shares of the company’s stock worth $51,000 after purchasing an additional 178 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Visteon in the fourth quarter worth $59,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Company Profile

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.