Several other research firms have also issued reports on VC. Guggenheim reissued a buy rating and set a $154.00 target price on shares of Visteon in a research note on Wednesday, January 10th. Zacks Investment Research raised shares of Visteon from a hold rating to a buy rating and set a $141.00 target price on the stock in a research note on Saturday, January 6th. B. Riley increased their target price on shares of Visteon from $140.00 to $162.00 and gave the stock a buy rating in a research note on Thursday, January 11th. Longbow Research began coverage on shares of Visteon in a research note on Friday, January 5th. They set a buy rating and a $160.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered shares of Visteon from an overweight rating to a neutral rating and lowered their target price for the stock from $142.00 to $137.00 in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $138.06.
Shares of Visteon (NYSE:VC) opened at $121.95 on Wednesday. Visteon has a 1-year low of $91.20 and a 1-year high of $140.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.97 and a quick ratio of 1.76. The company has a market cap of $3,770.00, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 1.34 and a beta of 0.88.
Visteon declared that its board has authorized a stock repurchase program on Tuesday, January 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO Sachin Lawande sold 1,539 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $123.62, for a total transaction of $190,251.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 11,539 shares of company stock valued at $1,474,051. Insiders own 0.19% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB acquired a new stake in Visteon in the 4th quarter valued at about $357,000. J. Goldman & Co LP acquired a new stake in Visteon in the 4th quarter valued at about $9,113,000. Gotham Asset Management LLC raised its holdings in Visteon by 126.3% in the 4th quarter. Gotham Asset Management LLC now owns 107,858 shares of the auto parts company’s stock valued at $13,497,000 after acquiring an additional 60,201 shares during the last quarter. Millennium Management LLC raised its holdings in Visteon by 62.5% in the 4th quarter. Millennium Management LLC now owns 42,927 shares of the auto parts company’s stock valued at $5,372,000 after acquiring an additional 16,515 shares during the last quarter. Finally, Meadow Creek Investment Management LLC raised its holdings in Visteon by 86.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 17,442 shares of the auto parts company’s stock valued at $2,183,000 after acquiring an additional 8,092 shares during the last quarter.
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Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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