Visteon (NASDAQ:VC) Shares Gap Down – Here’s Why
by Tristan Rich · The Markets DailyShares of Visteon Corporation (NASDAQ:VC – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $106.14, but opened at $99.49. Visteon shares last traded at $96.9160, with a volume of 348,523 shares.
Wall Street Analysts Forecast Growth
VC has been the subject of several analyst reports. Robert W. Baird set a $126.00 target price on Visteon in a research note on Wednesday, January 14th. Wolfe Research downgraded shares of Visteon from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 12th. Royal Bank Of Canada increased their price objective on shares of Visteon from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. UBS Group decreased their target price on shares of Visteon from $142.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. Finally, Morgan Stanley boosted their target price on shares of Visteon from $95.00 to $114.00 and gave the company an “equal weight” rating in a report on Monday, December 8th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Visteon presently has an average rating of “Moderate Buy” and a consensus target price of $127.15.
Get Our Latest Stock Analysis on Visteon
Visteon Price Performance
The stock has a market cap of $2.70 billion, a PE ratio of 8.88 and a beta of 1.16. The company has a quick ratio of 1.56, a current ratio of 1.89 and a debt-to-equity ratio of 0.18. The company’s fifty day moving average is $98.28 and its 200 day moving average is $108.72.
Visteon (NASDAQ:VC – Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.88. Visteon had a net margin of 8.22% and a return on equity of 21.85%. The company had revenue of $948.00 million during the quarter, compared to the consensus estimate of $920.25 million. During the same period in the previous year, the firm earned $4.44 earnings per share. Visteon’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Visteon
Institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of Visteon by 28.6% in the second quarter. American Century Companies Inc. now owns 2,222,551 shares of the company’s stock valued at $207,364,000 after buying an additional 494,820 shares in the last quarter. Boston Partners purchased a new position in Visteon in the 4th quarter worth approximately $25,342,000. Squarepoint Ops LLC purchased a new position in Visteon in the 4th quarter worth approximately $22,361,000. First Trust Advisors LP grew its position in Visteon by 483.0% in the fourth quarter. First Trust Advisors LP now owns 231,682 shares of the company’s stock valued at $22,033,000 after acquiring an additional 191,943 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Visteon by 16.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock valued at $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.