Visteon (NYSE:VC) Stock Rating Reaffirmed by Zacks Investment Research

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Visteon (NYSE:VC)‘s stock had its “sell” rating reaffirmed by Zacks Investment Research in a report released on Saturday, Zacks.com reports.

According to Zacks, “Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Products offered by the Company includes climate systems, powertrain control systems, engine induction systems, cockpit modules, front and rear lighting systems, engine management systems, and electronic products comprising integrated solutions, audio and infotainment, analog/digital instrument cluster, displays, control panel. Markets served by the Company include original equipment manufacturers and automotive aftermarket. Visteon Corp. is headquartered in Michigan, USA. “

Several other equities research analysts also recently commented on VC. Guggenheim began coverage on shares of Visteon in a research report on Tuesday, October 15th. They set a “neutral” rating for the company. Robert W. Baird set a $81.00 target price on shares of Visteon and gave the stock a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank set a $64.00 target price on shares of Visteon and gave the stock a “hold” rating in a research report on Friday, July 26th. Morgan Stanley set a $43.00 target price on shares of Visteon and gave the stock a “sell” rating in a research report on Wednesday, June 26th. Finally, UBS Group downgraded shares of Visteon from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $66.00 to $61.00 in a research report on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Visteon has an average rating of “Hold” and a consensus price target of $69.50.

VC opened at $84.90 on Friday. Visteon has a 1-year low of $44.04 and a 1-year high of $92.86. The company has a fifty day moving average price of $78.04 and a two-hundred day moving average price of $65.26.

Visteon (NYSE:VC) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.07). The business had revenue of $733.00 million for the quarter, compared to analysts’ expectations of $719.55 million. During the same period in the prior year, the business posted $1.37 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis.

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Visteon by 17.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,635,289 shares of the auto parts company’s stock worth $271,535,000 after purchasing an additional 672,851 shares in the last quarter. BlackRock Inc. grew its position in Visteon by 24.8% in the 2nd quarter. BlackRock Inc. now owns 3,204,560 shares of the auto parts company’s stock worth $187,725,000 after purchasing an additional 635,794 shares in the last quarter. Invesco Ltd. grew its position in Visteon by 200.1% in the 2nd quarter. Invesco Ltd. now owns 2,588,284 shares of the auto parts company’s stock worth $151,622,000 after purchasing an additional 1,725,726 shares in the last quarter. Marathon Asset Management LLP bought a new stake in Visteon in the 2nd quarter worth about $37,219,000. Finally, Victory Capital Management Inc. grew its position in Visteon by 20,099.4% in the 2nd quarter. Victory Capital Management Inc. now owns 545,787 shares of the auto parts company’s stock worth $31,972,000 after purchasing an additional 543,085 shares in the last quarter.

About Visteon

Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.

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