Visteon (NASDAQ:VC) Shares Gap Up After Better-Than-Expected Earnings

Visteon Co. (NASDAQ:VC)’s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $87.61, but opened at $92.26. Visteon shares last traded at $92.71, with a volume of 132,716 shares.

The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.29. The business had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.60 million. Visteon had a return on equity of 51.69% and a net margin of 13.79%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.35 earnings per share.

Analysts Set New Price Targets

VC has been the topic of several recent analyst reports. Baird R W downgraded Visteon from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Robert W. Baird restated a “neutral” rating and issued a $120.00 price objective (down previously from $137.00) on shares of Visteon in a research report on Friday, July 12th. UBS Group dropped their price objective on shares of Visteon from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their target price on shares of Visteon from $132.00 to $122.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Barclays dropped their target price on shares of Visteon from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.93.

Insider Transactions at Visteon

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of Visteon stock in a transaction on Monday, July 29th. The shares were 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 owns 5,988 shares of the company’s stock, valued at $669,039.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Visteon

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC increased its stake in Visteon by 46.7% in the third quarter. Signaturefd LLC now owns 421 shares of the company’s stock valued at $40,000 after purchasing an additional 134 shares in the last quarter. Creative Planning increased its stake in Visteon by 87.5% in the third quarter. Creative Planning now owns 8,914 shares of the company’s stock valued at $849,000 after purchasing an additional 4,160 shares in the last quarter. Inspire Investing LLC increased its stake in Visteon by 31.0% in the third quarter. Inspire Investing LLC now owns 4,317 shares of the company’s stock valued at $411,000 after purchasing an additional 1,022 shares in the last quarter. City Center Advisors LLC bought a new stake in Visteon in the third quarter valued at $281,000. Finally, Handelsbanken Fonder AB increased its stake in Visteon by 15.0% in the third quarter. Handelsbanken Fonder AB now owns 8,451 shares of the company’s stock valued at $805,000 after purchasing an additional 1,100 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Visteon Trading Up 5.6 %

The company has a quick ratio of 1.50, a current ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.56 billion, a P/E ratio of 4.80, a P/E/G ratio of 0.43 and a beta of 1.45. The firm’s 50 day simple moving average is $94.84 and its two-hundred day simple moving average is $104.08.

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.