Visteon (NASDAQ:VC) Shares Gap Up on Analyst Upgrade

Visteon Corporation (NASDAQ:VC)’s share price gapped up prior to trading on Monday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $113.81, but opened at $123.00. JPMorgan Chase & Co. now has a $165.00 price target on the stock, up from their previous price target of $108.00. Visteon shares last traded at $125.4310, with a volume of 99,242 shares changing hands.

A number of other equities analysts have also weighed in on VC. Robert W. Baird upped their target price on Visteon from $112.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Morgan Stanley set a $115.00 price target on shares of Visteon in a research report on Monday, April 27th. UBS Group boosted their price target on shares of Visteon from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, April 24th. The Goldman Sachs Group upped their price objective on shares of Visteon from $106.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Barclays raised shares of Visteon from an “equal weight” rating to an “overweight” rating and set a $145.00 price objective on the stock in a research note on Monday. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.92.

Insider Buying and Selling

In related news, SVP Seungkyung Kim sold 600 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $118.96, for a total transaction of $71,376.00. Following the transaction, the senior vice president directly owned 389 shares of the company’s stock, valued at $46,275.44. This trade represents a 60.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert R. Vallance sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $119.40, for a total transaction of $119,400.00. Following the transaction, the senior vice president owned 17,469 shares in the company, valued at approximately $2,085,798.60. This trade represents a 5.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,901 shares of company stock valued at $6,699,220 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Visteon

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in Visteon by 144.1% during the fourth quarter. Farther Finance Advisors LLC now owns 288 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Visteon in the 3rd quarter valued at $54,000. UMB Bank n.a. grew its stake in Visteon by 32.1% in the 4th quarter. UMB Bank n.a. now owns 506 shares of the company’s stock valued at $48,000 after purchasing an additional 123 shares during the period. Clearstead Advisors LLC increased its position in shares of Visteon by 183.7% during the 4th quarter. Clearstead Advisors LLC now owns 576 shares of the company’s stock valued at $55,000 after purchasing an additional 373 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Visteon by 1,195.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 596 shares of the company’s stock valued at $57,000 after purchasing an additional 550 shares during the last quarter. 99.71% of the stock is owned by institutional investors.

Visteon Stock Up 10.1%

The company has a market capitalization of $3.35 billion, a P/E ratio of 15.25, a PEG ratio of 1.43 and a beta of 1.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.73. The stock has a 50 day moving average price of $111.08 and a 200 day moving average price of $101.16.

Visteon (NASDAQ:VC) last posted its quarterly earnings results 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). Visteon had a net margin of 5.99% and a return on equity of 15.93%. The company had revenue of $954.00 million for the quarter, compared to the consensus estimate of $901.33 million. During the same quarter in the previous year, the company posted $2.47 EPS. Visteon’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Visteon Corporation will post 8.54 earnings per share for the current fiscal year.

Visteon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 1st. Visteon’s payout ratio is presently 18.27%.

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.