The Goldman Sachs Group Cuts Visteon (NASDAQ:VC) Price Target to $104.00

Visteon (NASDAQ:VC) had its target price lowered by The Goldman Sachs Group from $126.00 to $104.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. TD Cowen boosted their target price on shares of Visteon from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Visteon from $133.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen cut shares of Visteon from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Robert W. Baird reissued a “neutral” rating and set a $121.00 price objective on shares of Visteon in a research report on Friday, June 26th. Finally, Morgan Stanley upped their price objective on Visteon from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.82.

Visteon Stock Performance

Shares of VC opened at $86.15 on Tuesday. Visteon has a one year low of $83.49 and a one year high of $126.95. The business has a fifty day moving average of $99.02 and a 200 day moving average of $103.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.78 and a quick ratio of 1.45. The firm has a market capitalization of $2.30 billion, a P/E ratio of 11.26, a PEG ratio of 0.57 and a beta of 1.30.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, July 23rd. The company reported $1.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.30). Visteon had a return on equity of 14.61% and a net margin of 5.58%.The firm had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $955.78 million. During the same period in the previous year, the business posted $2.39 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Visteon will post 8.34 EPS for the current year.

Visteon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.3750 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.50 dividend on an annualized basis and a yield of 1.7%. Visteon’s dividend payout ratio (DPR) is presently 19.61%.

Institutional Trading of Visteon

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Visteon in the second quarter worth about $31,654,000. First Trust Advisors LP raised its stake in Visteon by 124.0% during the 1st quarter. First Trust Advisors LP now owns 519,041 shares of the company’s stock valued at $47,290,000 after purchasing an additional 287,359 shares during the period. Bank of America Corp DE raised its stake in Visteon by 130.1% during the 1st quarter. Bank of America Corp DE now owns 396,310 shares of the company’s stock valued at $36,108,000 after purchasing an additional 224,097 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Visteon by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock worth $127,879,000 after purchasing an additional 175,679 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Visteon by 47.2% in the 1st quarter. Renaissance Technologies LLC now owns 317,600 shares of the company’s stock worth $28,937,000 after purchasing an additional 101,900 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Company Profile

Visteon Corporation (NASDAQ: VC) is a global automotive technology company that develops electronic systems and software for vehicle manufacturers. Its products are designed to support the digital cockpit, vehicle connectivity, electrification and advanced driver-assistance functions.

The company’s offerings include cockpit domain controllers, infotainment systems, instrument clusters, vehicle displays, telematics and connectivity solutions, climate-control electronics, and battery-management and power-conversion systems for electrified vehicles.