Visteon (NASDAQ:VC) Sets New 1-Year Low After Earnings Miss

Visteon Co. (NASDAQ:VC) shares reached a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $105.38 and last traded at $105.51, with a volume of 320282 shares trading hands. The stock had previously closed at $111.14.

The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.14). Visteon had a return on equity of 53.49% and a net margin of 12.60%. The firm had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $971.45 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

VC has been the topic of several recent research reports. Guggenheim reduced 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. Wolfe Research reaffirmed a “peer perform” rating on shares of Visteon in a report on Thursday, January 4th. Bank of America reduced their target price on shares of Visteon from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Barclays raised shares of Visteon from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Finally, StockNews.com raised shares of Visteon from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VC. Vanguard Group Inc. raised its position in Visteon by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 2,880,882 shares of the company’s stock worth $359,822,000 after purchasing an additional 49,010 shares during the period. Victory Capital Management Inc. raised its position in Visteon by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,155,805 shares of the company’s stock worth $144,360,000 after purchasing an additional 60,507 shares during the period. Westfield Capital Management Co. LP raised its position in Visteon by 11.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 664,137 shares of the company’s stock worth $91,697,000 after purchasing an additional 65,593 shares during the period. Bank of New York Mellon Corp increased its position in shares of Visteon by 3.3% during the third quarter. Bank of New York Mellon Corp now owns 596,328 shares of the company’s stock worth $82,335,000 after acquiring an additional 19,296 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Visteon by 3.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 594,545 shares of the company’s stock worth $74,259,000 after acquiring an additional 20,649 shares during the period. Institutional investors own 99.71% of the company’s stock.

Visteon Trading Up 2.3 %

The firm has a market capitalization of $3.08 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 0.49 and a beta of 1.65. The stock’s 50-day moving average price is $113.58 and its 200 day moving average price is $118.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.74 and a quick ratio of 1.42.

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.