The Goldman Sachs Group Trims Visteon (NASDAQ:VC) Target Price to $117.00

Visteon (NASDAQ:VC) had its target price cut by The Goldman Sachs Group from $130.00 to $117.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on VC. UBS Group reduced their price objective on Visteon from $144.00 to $135.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Citigroup cut their price target on Visteon from $139.00 to $126.00 and set a buy rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company upgraded Visteon from an equal weight rating to an overweight rating and boosted their price target for the stock from $115.00 to $122.00 in a research note on Friday, September 20th. Wolfe Research assumed coverage on Visteon in a research note on Thursday, September 5th. They issued a peer perform rating on the stock. Finally, Morgan Stanley cut their price target on Visteon from $135.00 to $100.00 and set an equal weight rating on the stock in a research note on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $129.21.

Visteon Price Performance

VC stock opened at $90.70 on Tuesday. The stock has a 50-day moving average price of $98.51 and a two-hundred day moving average price of $106.36. The company has a market cap of $2.50 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.47 and a beta of 1.45. Visteon has a 12-month low of $88.37 and a 12-month high of $136.80. The company has a current ratio of 1.85, a quick ratio of 1.50 and a debt-to-equity ratio of 0.26.

Visteon (NASDAQ:VC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.58. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Visteon had a return on equity of 51.69% and a net margin of 13.79%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, research analysts predict that Visteon will post 8.06 EPS for the current year.

Insider Buying and Selling at Visteon

In other news, SVP Joao Paulo Ribeiro sold 3,859 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $111.73, for a total transaction of $431,166.07. Following the completion of the transaction, the senior vice president now directly owns 5,988 shares of the company’s stock, valued at $669,039.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Visteon

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its holdings in Visteon by 1,459.9% in the 2nd quarter. American Century Companies Inc. now owns 523,521 shares of the company’s stock worth $55,860,000 after buying an additional 489,959 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Visteon by 10.0% in the second quarter. Victory Capital Management Inc. now owns 1,516,024 shares of the company’s stock valued at $161,760,000 after buying an additional 137,264 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Visteon by 416.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 149,070 shares of the company’s stock worth $18,619,000 after purchasing an additional 120,210 shares during the period. Millennium Management LLC raised its position in Visteon by 24.4% during the second quarter. Millennium Management LLC now owns 568,536 shares of the company’s stock valued at $60,663,000 after buying an additional 111,377 shares during the period. Finally, Lodge Hill Capital LLC acquired a new position in Visteon during the second quarter valued at $11,204,000. 99.71% of the stock is owned by 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.