The Goldman Sachs Group Cuts Visteon (NASDAQ:VC) Price Target to $104.00

Key Points

• Goldman Sachs lowered Visteon’s price target to $104 from $126 but maintained a “buy” rating, implying 16.5% upside from the prior close.
• Analyst sentiment remains generally positive: eight analysts rate Visteon a buy and five rate it a hold, producing a “Moderate Buy” consensus and an average price target of $130.91.
• Visteon’s latest quarterly results were mixed, with revenue of $960 million slightly exceeding estimates but EPS of $1.91 falling short of the $2.21 consensus; revenue declined 0.9% year over year.

Visteon (NASDAQ:VC - Get Free Report) had its price objective dropped by research analysts at The Goldman Sachs Group from $126.00 to $104.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 16.50% from the stock's previous close.

Several other equities research analysts have also recently weighed in on VC. JPMorgan Chase & Co. reduced their price target on shares of Visteon from $170.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Visteon from $133.00 to $132.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. TD Cowen boosted their target price on shares of Visteon from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Weiss Ratings restated a "hold (c)" rating on shares of Visteon in a research report on Wednesday, July 29th. Finally, Wolfe Research downgraded shares of Visteon from an "outperform" rating to a "peer perform" rating in a report on Tuesday, July 28th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $130.91.

Visteon Price Performance

NASDAQ:VC opened at $89.27 on Tuesday. The company has a current ratio of 1.78, a quick ratio of 1.45 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.38 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.58 and a beta of 1.30. Visteon has a 12 month low of $83.49 and a 12 month high of $126.95. The business's 50-day moving average is $100.14 and its 200 day moving average is $103.70.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing analysts' consensus estimates of $2.21 by ($0.30). Visteon had a net margin of 5.58% and a return on equity of 14.61%. The firm had revenue of $960.00 million for the quarter, compared to the consensus estimate of $955.78 million. During the same period in the previous year, the company posted $2.39 earnings per share. Visteon's quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts forecast that Visteon will post 8.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of Visteon by 58.7% in the 2nd quarter. Versant Capital Management Inc now owns 581 shares of the company's stock worth $58,000 after acquiring an additional 215 shares during the last quarter. Nykredit A S bought a new position in Visteon during the 2nd quarter valued at about $119,000. OP Asset Management Ltd purchased a new stake in Visteon in the 1st quarter worth about $116,000. Sequoia Financial Advisors LLC purchased a new stake in Visteon in the 2nd quarter worth about $201,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Visteon by 2,564.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,078 shares of the company's stock worth $198,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 99.71% of the company's stock.

About Visteon

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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