Visteon (NYSE:VC) Stock Rating Reaffirmed by Zacks Investment Research

Zacks Investment Research restated their sell rating on shares of Visteon (NYSE:VC) in a report issued on Saturday, Zacks.com reports.

According to Zacks, “Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Products offered by the Company includes climate systems, powertrain control systems, engine induction systems, cockpit modules, front and rear lighting systems, engine management systems, and electronic products comprising integrated solutions, audio and infotainment, analog/digital instrument cluster, displays, control panel. Markets served by the Company include original equipment manufacturers and automotive aftermarket. Visteon Corp. is headquartered in Michigan, USA. “

VC has been the topic of several other reports. Cowen set a $72.00 price objective on shares of Visteon and gave the stock a buy rating in a report on Friday, July 19th. Deutsche Bank set a $64.00 price objective on shares of Visteon and gave the stock a hold rating in a report on Friday, July 26th. UBS Group lowered shares of Visteon from a neutral rating to a sell rating and cut their price objective for the stock from $66.00 to $61.00 in a report on Thursday, September 12th. Guggenheim began coverage on shares of Visteon in a report on Tuesday, October 15th. They set a neutral rating on the stock. Finally, Citigroup set a $86.00 price objective on shares of Visteon and gave the stock a hold rating in a report on Friday, September 13th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $69.50.

Visteon stock opened at $85.03 on Friday. Visteon has a 12-month low of $44.04 and a 12-month high of $92.86. The firm’s 50-day moving average is $79.28 and its two-hundred day moving average is $65.52.

Visteon (NYSE:VC) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.07). The business had revenue of $733.00 million for the quarter, compared to the consensus estimate of $719.55 million. Visteon’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC raised its holdings in Visteon by 34.3% in the third quarter. Essex Investment Management Co. LLC now owns 5,228 shares of the auto parts company’s stock valued at $432,000 after buying an additional 1,336 shares during the period. World Asset Management Inc purchased a new position in Visteon in the third quarter valued at approximately $311,000. Brinker Capital Inc. raised its holdings in Visteon by 19.8% in the third quarter. Brinker Capital Inc. now owns 13,159 shares of the auto parts company’s stock valued at $1,086,000 after buying an additional 2,175 shares during the period. Strs Ohio raised its holdings in Visteon by 0.7% in the third quarter. Strs Ohio now owns 70,500 shares of the auto parts company’s stock valued at $5,819,000 after buying an additional 500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Visteon by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,972 shares of the auto parts company’s stock valued at $163,000 after buying an additional 252 shares during the period.

About Visteon

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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