Visteon (NASDAQ:VC) Price Target Lowered to $100.00 at Morgan Stanley

Visteon (NASDAQ:VC) had its price objective decreased by Morgan Stanley from $135.00 to $100.00 in a research note released on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Visteon from $144.00 to $135.00 and set a neutral rating for the company in a report on Monday, July 22nd. Wells Fargo & Company boosted their price objective on Visteon from $107.00 to $115.00 and gave the company an equal weight rating in a report on Friday, July 26th. Citigroup dropped their price objective on Visteon from $139.00 to $126.00 and set a buy rating for the company in a report on Friday, July 12th. Guggenheim dropped their price objective on Visteon from $136.00 to $126.00 and set a buy rating for the company in a report on Wednesday, April 17th. Finally, UBS Group dropped their price objective on Visteon from $144.00 to $135.00 and set a buy rating for the company in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Visteon currently has an average rating of Moderate Buy and an average price target of $131.62.

Visteon Price Performance

NASDAQ VC traded up $2.88 during trading on Wednesday, hitting $99.13. 8,836 shares of the stock traded hands, compared to its average volume of 273,523. The company has a market capitalization of $2.74 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of 0.48 and a beta of 1.46. The firm has a 50-day simple moving average of $106.53 and a 200-day simple moving average of $111.50. The company has a quick ratio of 1.50, a current ratio of 1.85 and a debt-to-equity ratio of 0.26. Visteon has a 12-month low of $95.40 and a 12-month high of $144.40.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, July 25th. The company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.58. The firm had revenue of $1.01 billion during 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 company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 EPS. As a group, analysts predict that Visteon will post 8.06 EPS for the current year.

Insider Activity

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

Institutional Trading of Visteon

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in Visteon by 1,459.9% in the second quarter. American Century Companies Inc. now owns 523,521 shares of the company’s stock valued at $55,860,000 after purchasing an additional 489,959 shares during the period. Assenagon Asset Management S.A. grew its holdings in Visteon by 404.5% in the first quarter. Assenagon Asset Management S.A. now owns 405,280 shares of the company’s stock valued at $47,665,000 after purchasing an additional 324,946 shares during the period. Norges Bank acquired a new stake in Visteon in the fourth quarter valued at approximately $40,092,000. Victory Capital Management Inc. grew its holdings in 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 purchasing an additional 137,264 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Visteon by 416.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 149,070 shares of the company’s stock valued at $18,619,000 after purchasing an additional 120,210 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

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.