Visteon (NASDAQ:VC) Sets New 52-Week High After Analyst Upgrade

Key Points

• Visteon's stock reached a new 52-week high of $118.16 after Morgan Stanley increased its price target from $90 to $95, maintaining an 'equal weight' rating.
• Despite recent upgrades from various brokerages, including Baird R W and Deutsche Bank, Visteon has a consensus rating of "Moderate Buy" with an average price target of $116.00.
• Visteon reported a **quarterly EPS of $2.39**, surpassing expectations, although its revenue declined by 4.4% compared to the previous year.

Shares of Visteon Corporation (NASDAQ:VC - Get Free Report) reached a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $90.00 to $95.00. Morgan Stanley currently has an equal weight rating on the stock. Visteon traded as high as $118.16 and last traded at $117.68, with a volume of 90574 shares traded. The stock had previously closed at $113.42.

VC has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Visteon from $120.00 to $131.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Baird R W raised Visteon from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 11th. Wells Fargo & Company increased their price objective on Visteon from $106.00 to $129.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. increased their price objective on Visteon from $101.00 to $104.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, UBS Group reaffirmed a "buy" rating and issued a $146.00 price target (up previously from $142.00) on shares of Visteon in a research note on Friday, July 25th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.00.

Insider Buying and Selling at Visteon

In other Visteon news, SVP Joao Paulo Ribeiro sold 710 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $115.09, for a total transaction of $81,713.90. Following the completion of the transaction, the senior vice president owned 6,698 shares of the company's stock, valued at approximately $770,872.82. This trade represents a 9.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert R. Vallance sold 2,000 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $100.15, for a total value of $200,300.00. Following the transaction, the senior vice president directly owned 20,838 shares of the company's stock, valued at $2,086,925.70. This represents a 8.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,710 shares of company stock valued at $522,014 in the last three months. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Visteon

Several large investors have recently modified their holdings of VC. Amundi increased its holdings in Visteon by 1.3% in the 2nd quarter. Amundi now owns 6,862 shares of the company's stock worth $706,000 after buying an additional 86 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of Visteon by 1.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,900 shares of the company's stock valued at $550,000 after purchasing an additional 100 shares during the period. Cardinal Capital Management grew its stake in shares of Visteon by 0.7% during the 2nd quarter. Cardinal Capital Management now owns 19,998 shares of the company's stock valued at $1,866,000 after purchasing an additional 139 shares during the period. LPL Financial LLC grew its stake in shares of Visteon by 2.6% during the 4th quarter. LPL Financial LLC now owns 6,166 shares of the company's stock valued at $547,000 after purchasing an additional 156 shares during the period. Finally, Summit Investment Advisors Inc. grew its stake in shares of Visteon by 2.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,519 shares of the company's stock valued at $756,000 after purchasing an additional 182 shares during the period. Hedge funds and other institutional investors own 99.71% of the company's stock.

Visteon Trading Down 1.5%

The stock has a 50 day simple moving average of $104.15 and a 200-day simple moving average of $89.10. The firm has a market capitalization of $3.32 billion, a P/E ratio of 11.59, a P/E/G ratio of 4.77 and a beta of 1.22. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19.

Visteon (NASDAQ:VC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.35. The business had revenue of $969.00 million during the quarter, compared to the consensus estimate of $943.12 million. Visteon had a return on equity of 23.22% and a net margin of 7.61%. The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 EPS. On average, equities research analysts forecast that Visteon Corporation will post 8.42 EPS for the current fiscal year.

Visteon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 18th.

Visteon Company 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.