Visteon (NASDAQ:VC) Hits New 1-Year Low Following Weak Earnings

Shares of Visteon Co. (NASDAQ:VC) hit a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $105.38 and last traded at $105.51, with a volume of 320282 shares changing hands. The stock had previously closed at $111.14.

The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.14). The company had revenue of $933.00 million during the quarter, compared to the consensus estimate of $971.45 million. Visteon had a return on equity of 53.49% and a net margin of 12.60%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VC. Barclays upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Bank of America decreased their price objective on shares of Visteon from $165.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. decreased their price objective on shares of Visteon from $146.00 to $145.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. UBS Group raised shares of Visteon from a “neutral” rating to a “buy” rating and boosted their price target for the company from $143.00 to $145.00 in a report on Wednesday, January 17th. Finally, Royal Bank of Canada reduced their price target on shares of Visteon from $188.00 to $146.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.36.

Institutional Investors Weigh In On Visteon

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tectonic Advisors LLC acquired a new position in Visteon in the fourth quarter worth approximately $3,187,000. Westfield Capital Management Co. LP grew its holdings in Visteon by 11.0% during the third quarter. Westfield Capital Management Co. LP now owns 664,137 shares of the company’s stock valued at $91,697,000 after purchasing an additional 65,593 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Visteon by 1,842.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 27,444 shares of the company’s stock valued at $3,789,000 after purchasing an additional 26,031 shares during the last quarter. Comerica Bank acquired a new position in Visteon during the third quarter valued at approximately $12,222,000. Finally, AQR Capital Management LLC grew its holdings in Visteon by 40.4% during the third quarter. AQR Capital Management LLC now owns 66,670 shares of the company’s stock valued at $9,205,000 after purchasing an additional 19,196 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors.

Visteon Stock Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.74 and a quick ratio of 1.42. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 6.41, a P/E/G ratio of 0.49 and a beta of 1.65. The firm has a fifty day simple moving average of $113.58 and a 200 day simple moving average of $118.46.

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.