Wells Fargo & Company Has Lowered Expectations for Visteon (NASDAQ:VC) Stock Price

Key Points

• Wells Fargo trimmed its price target on Visteon from $139 to $137 but kept an overweight rating, implying about 17.28% upside from the current price.
• Visteon shares were down 1.1% to $116.82 on Thursday, with trading volume below average and a market value of about $3.12 billion.
• The company recently missed earnings expectations for its latest quarter, posting $1.65 EPS versus $1.96 expected, even though revenue came in above forecasts at $954 million.

Visteon (NASDAQ:VC - Get Free Report) had its price target reduced by Wells Fargo & Company from $139.00 to $137.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 17.28% from the stock's current price.

VC has been the topic of several other research reports. JPMorgan Chase & Co. raised Visteon from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $108.00 to $165.00 in a research report on Monday. Barclays upgraded Visteon from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $115.00 to $145.00 in a research report on Monday. Weiss Ratings raised shares of Visteon from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Robert W. Baird boosted their price objective on shares of Visteon from $112.00 to $121.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Wall Street Zen downgraded shares of Visteon from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $132.75.

Visteon Trading Down 1.1%

Shares of NASDAQ:VC traded down $1.34 during trading on Thursday, reaching $116.82. The company's stock had a trading volume of 250,983 shares, compared to its average volume of 579,645. The stock has a market capitalization of $3.12 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. Visteon has a 12 month low of $83.49 and a 12 month high of $129.10. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17. The firm's 50 day simple moving average is $112.48 and its two-hundred day simple moving average is $101.52.

Visteon (NASDAQ:VC - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.31). The company had revenue of $954.00 million for the quarter, compared to the consensus estimate of $901.33 million. Visteon had a return on equity of 15.93% and a net margin of 5.99%.The company's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 earnings per share. On average, research analysts predict that Visteon will post 8.58 EPS for the current fiscal year.

Insider Transactions at Visteon

In related news, CAO Colleen Elizabeth Myers sold 475 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $110.92, for a total value of $52,687.00. Following the transaction, the chief accounting officer owned 241 shares of the company's stock, valued at $26,731.72. This represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert R. Vallance sold 1,000 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $119.40, for a total value of $119,400.00. Following the transaction, the senior vice president owned 17,469 shares in the company, valued at $2,085,798.60. The trade was a 5.41% 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. Insiders have sold 58,901 shares of company stock valued at $6,699,220 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Visteon

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP lifted its stake in Visteon by 124.0% in the first quarter. First Trust Advisors LP now owns 519,041 shares of the company's stock worth $47,290,000 after acquiring an additional 287,359 shares during the period. Boston Partners purchased a new position in Visteon during the 4th quarter valued at about $25,342,000. Squarepoint Ops LLC bought a new stake in shares of Visteon in the 4th quarter valued at about $22,361,000. Bank of America Corp DE raised its holdings in shares of Visteon by 130.1% in the 1st quarter. Bank of America Corp DE now owns 396,310 shares of the company's stock valued at $36,108,000 after purchasing an additional 224,097 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Visteon by 16.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company's stock worth $126,902,000 after purchasing an additional 187,347 shares during the period. Hedge funds and other institutional investors own 99.71% of the company's stock.

About Visteon

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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