Visteon (NASDAQ:VC) Upgraded to "Overweight" at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. upgraded Visteon from “neutral” to “overweight” and raised its price target to $165 from $108, implying about 45% upside from the prior close.
• Other analysts have also turned more positive on Visteon recently, with several upgrades and target increases; the stock now carries a consensus Moderate Buy and an average price target of $130.42.
• Visteon reported quarterly results that beat revenue estimates but missed EPS expectations, while insiders sold shares and institutional investors continue to hold the vast majority of the stock.

Visteon (NASDAQ:VC - Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research note issued to investors on Monday,Benzinga reports. The firm presently has a $165.00 price objective on the stock, up from their previous price objective of $108.00. JPMorgan Chase & Co.'s price target points to a potential upside of 44.98% from the company's previous close.

VC has been the topic of a number of other research reports. Wolfe Research upgraded shares of Visteon from a "peer perform" rating to an "outperform" rating and set a $135.00 target price on the stock in a research report on Monday, April 27th. Barclays upgraded shares of Visteon from an "overweight" rating to an "overweight" rating in a report on Monday. The Goldman Sachs Group increased their price target on Visteon from $106.00 to $118.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded Visteon from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Finally, Wall Street Zen cut Visteon from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Visteon presently has a consensus rating of "Moderate Buy" and an average price target of $130.42.

Visteon Price Performance

Shares of VC stock opened at $113.81 on Monday. The business has a fifty day simple moving average of $111.08 and a 200 day simple moving average of $101.16. The company has a market cap of $3.04 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.43 and a beta of 1.26. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.17. Visteon has a twelve month low of $83.49 and a twelve month high of $129.10.

Visteon (NASDAQ:VC - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.96 by ($0.31). The business had revenue of $954.00 million during the quarter, compared to the consensus estimate of $901.33 million. Visteon had a net margin of 5.99% and a return on equity of 15.93%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.47 EPS. On average, sell-side analysts forecast that Visteon will post 8.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Colleen Elizabeth Myers sold 475 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $110.92, for a total transaction of $52,687.00. Following the completion of the transaction, the chief accounting officer directly owned 241 shares in the company, valued at $26,731.72. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sachin Lawande sold 38,817 shares of Visteon stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $113.63, for a total value of $4,410,775.71. Following the completion of the transaction, the chief executive officer directly owned 193,822 shares in the company, valued at approximately $22,023,993.86. This represents a 16.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 58,901 shares of company stock valued at $6,699,220. Corporate insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Visteon by 389.3% during the first quarter. Royal Bank of Canada now owns 21,992 shares of the company's stock worth $1,707,000 after buying an additional 17,497 shares during the period. Goldman Sachs Group Inc. boosted its position in Visteon by 31.5% during the first quarter. Goldman Sachs Group Inc. now owns 249,564 shares of the company's stock valued at $19,371,000 after acquiring an additional 59,764 shares during the last quarter. Amundi boosted its position in Visteon by 1.3% during the second quarter. Amundi now owns 6,862 shares of the company's stock valued at $706,000 after acquiring an additional 86 shares during the last quarter. Jump Financial LLC grew its holdings in Visteon by 43.0% during the 2nd quarter. Jump Financial LLC now owns 16,833 shares of the company's stock worth $1,571,000 after acquiring an additional 5,059 shares during the period. Finally, Cerity Partners LLC acquired a new stake in Visteon during the 2nd quarter worth about $1,150,000. Institutional investors and hedge funds own 99.71% of the company's stock.

Visteon Company Profile

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company's product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.

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