Royal Bank Of Canada Issues Pessimistic Forecast for Visteon (NASDAQ:VC) Stock Price

Key Points

• Royal Bank of Canada lowered its Visteon price target to $127 from $129 while maintaining an “outperform” rating, implying roughly 50.7% upside from the stock’s $84.30 price.
• Visteon shares fell 1.3% and are near their 52-week low after the company missed quarterly EPS expectations, reporting $1.91 versus the $2.21 consensus, despite slightly higher-than-expected revenue.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $126.82; institutional investors own approximately 99.71% of the company’s shares.

Visteon (NASDAQ:VC - Get Free Report) had its target price reduced by Royal Bank Of Canada from $129.00 to $127.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 50.66% from the stock's current price.

Several other research analysts have also commented on VC. TD Cowen boosted their price target on Visteon from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. JPMorgan Chase & Co. decreased their price objective on Visteon from $170.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, September 15th. Morgan Stanley raised their price objective on Visteon from $115.00 to $130.00 and gave the company an "equal weight" rating in a research report on Friday, June 26th. Robert W. Baird reaffirmed a "neutral" rating and set a $121.00 price objective on shares of Visteon in a research report on Friday, June 26th. Finally, Wolfe Research lowered Visteon from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, July 28th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $126.82.

Visteon Stock Down 1.3%

Shares of NASDAQ VC traded down $1.14 during midday trading on Monday, reaching $84.30. 14,678 shares of the company's stock traded hands, compared to its average volume of 559,843. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 0.56 and a beta of 1.30. The stock's 50 day simple moving average is $98.63 and its 200-day simple moving average is $103.75. The company has a quick ratio of 1.45, a current ratio of 1.78 and a debt-to-equity ratio of 0.17. Visteon has a one year low of $83.49 and a one year high of $126.95.

Visteon (NASDAQ:VC - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing analysts' consensus estimates of $2.21 by ($0.30). The business had revenue of $960.00 million during the quarter, compared to the consensus estimate of $955.78 million. Visteon had a return on equity of 14.61% and a net margin of 5.58%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $2.39 EPS. On average, analysts predict that Visteon will post 8.34 EPS for the current fiscal year.

Institutional Trading of Visteon

Several hedge funds and other institutional investors have recently made changes to their positions in VC. Dimensional Fund Advisors LP grew its stake in Visteon by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company's stock worth $127,879,000 after buying an additional 175,679 shares during the last quarter. First Trust Advisors LP increased its position in Visteon by 124.0% during the 1st quarter. First Trust Advisors LP now owns 519,041 shares of the company's stock valued at $47,290,000 after buying an additional 287,359 shares in the last quarter. Bank of America Corp DE increased its position in Visteon by 130.1% during the 1st quarter. Bank of America Corp DE now owns 396,310 shares of the company's stock valued at $36,108,000 after buying an additional 224,097 shares in the last quarter. Systematic Financial Management LP raised its stake in Visteon by 13.4% in the first quarter. Systematic Financial Management LP now owns 322,677 shares of the company's stock valued at $29,399,000 after buying an additional 38,119 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Visteon in the second quarter valued at about $31,654,000. Hedge funds and other institutional investors own 99.71% of the company's stock.

Visteon Company Profile

Visteon Corporation NASDAQ: VC is a global automotive technology company that develops electronic systems and software for vehicle manufacturers. Its products are designed to support the digital cockpit, vehicle connectivity, electrification and advanced driver-assistance functions.

The company's offerings include cockpit domain controllers, infotainment systems, instrument clusters, vehicle displays, telematics and connectivity solutions, climate-control electronics, and battery-management and power-conversion systems for electrified vehicles.

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