Point72 Italy S.r.l. Trims Holdings in Visteon Co. (NASDAQ:VC)

Point72 Italy S.r.l. lessened its stake in shares of Visteon Co. (NASDAQ:VC) by 53.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,353 shares of the company’s stock after selling 12,847 shares during the quarter. Point72 Italy S.r.l.’s holdings in Visteon were worth $1,081,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Signaturefd LLC grew its stake in shares of Visteon by 70.8% during the 2nd quarter. Signaturefd LLC now owns 287 shares of the company’s stock worth $31,000 after purchasing an additional 119 shares during the period. nVerses Capital LLC increased its holdings in shares of Visteon by 22.2% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $117,000 after purchasing an additional 200 shares during the period. Covestor Ltd grew its holdings in Visteon by 14.8% during the third quarter. Covestor Ltd now owns 1,567 shares of the company’s stock worth $149,000 after acquiring an additional 202 shares during the period. State of Alaska Department of Revenue grew its holdings in Visteon by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 3,221 shares of the company’s stock valued at $306,000 after purchasing an additional 215 shares during the last quarter. Finally, KBC Group NV lifted its position in Visteon by 37.7% during the third quarter. KBC Group NV now owns 902 shares of the company’s stock worth $86,000 after buying an additional 247 shares during the period. Institutional investors own 99.71% of the company’s stock.

Visteon Stock Performance

VC stock opened at $95.11 on Wednesday. The firm has a market cap of $2.63 billion, a P/E ratio of 5.16, a P/E/G ratio of 0.45 and a beta of 1.44. The stock’s 50 day simple moving average is $92.17 and its 200 day simple moving average is $99.81. The company has a current ratio of 1.82, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24. Visteon Co. has a 12-month low of $86.27 and a 12-month high of $131.70.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, October 24th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.89 by $0.37. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $965.60 million. Visteon had a return on equity of 46.19% and a net margin of 13.22%. Visteon’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 earnings per share. As a group, equities research analysts predict that Visteon Co. will post 8.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on VC shares. Royal Bank of Canada reduced their target price on Visteon from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $124.00 target price on shares of Visteon in a report on Tuesday, September 10th. Wolfe Research started coverage on Visteon in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. StockNews.com downgraded Visteon from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, Morgan Stanley reduced their price objective on Visteon from $135.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.57.

Visteon 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.