Visteon (NASDAQ:VC) Shares Gap Up After Better-Than-Expected Earnings

Visteon Co. (NASDAQ:VC) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $87.61, but opened at $92.26. Visteon shares last traded at $92.71, with a volume of 132,716 shares changing hands.

The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.37. Visteon had a return on equity of 51.69% and a net margin of 13.79%. The company had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.60 million. During the same quarter in the previous year, the firm posted $2.35 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

VC has been the topic of several recent research reports. Citigroup decreased their price objective on shares of Visteon from $139.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Robert W. Baird reiterated a “neutral” rating and issued a $120.00 price target (down from $137.00) on shares of Visteon in a research report on Friday, July 12th. JPMorgan Chase & Co. cut their price objective on Visteon from $132.00 to $122.00 and set a “neutral” rating for the company in a research report on Monday, October 21st. Royal Bank of Canada reduced their target price on Visteon from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Morgan Stanley dropped their price target on Visteon from $135.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.57.

Insider Activity at Visteon

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the transaction, the senior vice president now owns 5,988 shares of the company’s stock, valued at approximately $669,039.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VC. Vanguard Group Inc. lifted its position in shares of Visteon by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,929,339 shares of the company’s stock worth $344,520,000 after buying an additional 48,457 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Visteon by 10.0% in the second quarter. Victory Capital Management Inc. now owns 1,516,024 shares of the company’s stock worth $161,760,000 after acquiring an additional 137,264 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Visteon by 1.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 808,192 shares of the company’s stock worth $86,234,000 after acquiring an additional 8,941 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Visteon by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 670,597 shares of the company’s stock valued at $71,552,000 after acquiring an additional 83,840 shares during the period. Finally, Millennium Management LLC raised its position in shares of Visteon by 24.4% during the 2nd quarter. Millennium Management LLC now owns 568,536 shares of the company’s stock worth $60,663,000 after purchasing an additional 111,377 shares during the period. Institutional investors own 99.71% of the company’s stock.

Visteon Trading Up 0.4 %

The firm has a market cap of $2.56 billion, a P/E ratio of 4.80, a P/E/G ratio of 0.43 and a beta of 1.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.50 and a current ratio of 1.85. The firm has a fifty day moving average of $94.58 and a 200-day moving average of $103.89.

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.