Visteon (NYSE:VC) declared that its Board of Directors has authorized a stock buyback program, which authorizes the company to buyback $500.00 million in outstanding shares on Tuesday, January 16th, EventVestor reports. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

VC has been the topic of several recent research reports. Zacks Investment Research upgraded Visteon from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a report on Tuesday, October 31st. Citigroup upped their price objective on Visteon from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Barclays set a $107.00 price objective on Visteon and gave the company a “hold” rating in a report on Friday, October 20th. Royal Bank of Canada reiterated a “hold” rating and issued a $138.00 price objective on shares of Visteon in a report on Wednesday, December 20th. Finally, FBR & Co upped their price objective on Visteon from $120.00 to $140.00 and gave the company a “buy” rating in a report on Friday, October 27th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $132.31.

Shares of Visteon (VC) traded down $5.65 during midday trading on Tuesday, reaching $132.38. The company’s stock had a trading volume of 132,350 shares, compared to its average volume of 211,871. The stock has a market capitalization of $4,140.00, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.86. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. Visteon has a 52 week low of $86.10 and a 52 week high of $140.64.

Visteon (NYSE:VC) last announced its earnings results on Thursday, October 26th. The auto parts company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. The company had revenue of $765.00 million for the quarter, compared to analyst estimates of $761.95 million. Visteon had a return on equity of 29.13% and a net margin of 4.83%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 earnings per share. analysts predict that Visteon will post 6.23 EPS for the current fiscal year.

In other Visteon news, CEO Sachin Lawande sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $126.05, for a total value of $315,125.00. Following the sale, the chief executive officer now owns 8,595 shares of the company’s stock, valued at $1,083,399.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 15,000 shares of company stock worth $1,932,325. 0.19% of the stock is owned by corporate insiders.

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Visteon Company Profile

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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