ExodusPoint Capital Management LP Takes Position in Visteon Co. (NASDAQ:VC)

ExodusPoint Capital Management LP bought a new position in shares of Visteon Co. (NASDAQ:VC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 53,739 shares of the company’s stock, valued at approximately $4,768,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VC. FMR LLC increased its holdings in shares of Visteon by 89.3% in the third quarter. FMR LLC now owns 3,354 shares of the company’s stock valued at $319,000 after purchasing an additional 1,582 shares during the last quarter. Morse Asset Management Inc acquired a new position in Visteon in the 3rd quarter valued at about $164,000. Point72 Asset Management L.P. raised its holdings in Visteon by 145.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 83,010 shares of the company’s stock valued at $7,906,000 after acquiring an additional 49,210 shares during the period. Point72 DIFC Ltd lifted its position in Visteon by 1,271.3% during the third quarter. Point72 DIFC Ltd now owns 2,441 shares of the company’s stock worth $232,000 after acquiring an additional 2,263 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Visteon by 0.4% during the third quarter. State Street Corp now owns 1,024,865 shares of the company’s stock worth $97,608,000 after acquiring an additional 3,918 shares during the period. 99.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VC. TD Cowen assumed coverage on Visteon in a report on Friday, March 7th. They set a “buy” rating and a $108.00 price target for the company. Barclays decreased their price target on shares of Visteon from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada lowered their price objective on Visteon from $127.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley dropped their target price on shares of Visteon from $100.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company upped their price objective on Visteon from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Visteon presently has an average rating of “Moderate Buy” and an average target price of $117.25.

Visteon Stock Performance

NASDAQ:VC opened at $72.34 on Monday. Visteon Co. has a 52-week low of $68.61 and a 52-week high of $117.94. The business’s fifty day moving average is $83.16 and its 200 day moving average is $87.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.47 and a current ratio of 1.74. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 0.42 and a beta of 1.32.

Visteon (NASDAQ:VC) last released its quarterly earnings data on Tuesday, February 18th. The company reported $4.44 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $2.47. Visteon had a net margin of 7.09% and a return on equity of 24.58%. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $954.17 million. Research analysts predict that Visteon Co. will post 8.42 EPS for the current year.

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.