Morgan Stanley Cuts Visteon (NASDAQ:VC) Price Target to $95.00

Visteon (NASDAQ:VC) had its price target lowered by equities researchers at Morgan Stanley from $100.00 to $95.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 10.16% from the stock’s previous close.

VC has been the subject of a number of other reports. StockNews.com cut shares of Visteon from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Wells Fargo & Company raised their price target on Visteon from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reduced their price objective on Visteon from $127.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Barclays dropped their price objective on Visteon from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.92.

Visteon Price Performance

VC stock traded down $0.48 during trading on Monday, reaching $86.24. 94,239 shares of the company were exchanged, compared to its average volume of 318,516. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.47 and a current ratio of 1.74. The stock’s 50 day moving average price is $85.52 and its 200 day moving average price is $90.68. Visteon has a 52-week low of $75.75 and a 52-week high of $121.45. The company has a market cap of $2.34 billion, a P/E ratio of 8.80, a PEG ratio of 0.42 and a beta of 1.44.

Visteon (NASDAQ:VC) last posted its earnings results on Tuesday, February 18th. The company reported $4.44 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $2.47. Visteon had a return on equity of 24.58% and a net margin of 7.09%. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $954.17 million. As a group, analysts predict that Visteon will post 8.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Visteon

A number of hedge funds have recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of Visteon by 58.8% during the 4th quarter. American Century Companies Inc. now owns 1,448,017 shares of the company’s stock valued at $128,468,000 after buying an additional 536,073 shares during the period. Norges Bank acquired a new stake in Visteon in the fourth quarter valued at approximately $29,468,000. Price T Rowe Associates Inc. MD raised its stake in shares of Visteon by 78.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 336,443 shares of the company’s stock valued at $29,850,000 after purchasing an additional 147,685 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Visteon by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 844,068 shares of the company’s stock worth $74,886,000 after purchasing an additional 124,897 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Visteon in the fourth quarter valued at $10,170,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.