Visteon (NASDAQ:VC) Reaches New 52-Week Low Following Analyst Downgrade

Visteon Co. (NASDAQ:VC)’s share price hit a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $132.00 to $122.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Visteon traded as low as $87.65 and last traded at $87.71, with a volume of 257686 shares. The stock had previously closed at $91.54.

VC has been the subject of several other reports. Morgan Stanley lowered their price objective on shares of Visteon from $135.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada dropped their price objective on Visteon from $144.00 to $129.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. TD Cowen lowered their target price on Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Wells Fargo & Company upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $122.00 in a research note on Friday, September 20th. Finally, Citigroup decreased their price target on shares of Visteon from $139.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.93.

Insider Buying and Selling

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of Visteon stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the sale, the senior vice president now directly owns 5,988 shares in the company, valued at approximately $669,039.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Visteon

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased 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 valued at $359,822,000 after buying an additional 49,010 shares in the last quarter. Hennessy Advisors Inc. grew its position in Visteon by 43.9% in the 1st quarter. Hennessy Advisors Inc. now owns 26,900 shares of the company’s stock valued at $3,164,000 after purchasing an additional 8,200 shares during the period. State of Michigan Retirement System increased its stake in Visteon by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 6,807 shares of the company’s stock valued at $801,000 after purchasing an additional 100 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in Visteon by 30.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 16,259 shares of the company’s stock worth $1,912,000 after buying an additional 3,821 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Visteon by 10.0% in the first quarter. Principal Financial Group Inc. now owns 274,848 shares of the company’s stock valued at $32,325,000 after buying an additional 25,080 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Visteon Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.85 and a quick ratio of 1.50. The business’s fifty day moving average price is $95.22 and its 200-day moving average price is $104.40. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 4.59, a PEG ratio of 0.44 and a beta of 1.45.

Visteon (NASDAQ:VC) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.58. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate 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. On average, research analysts forecast that Visteon Co. will post 8.01 EPS for the current year.

About Visteon

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.