Simplicity Solutions LLC Takes Position in Visteon Co. (NASDAQ:VC)

Simplicity Solutions LLC bought a new stake in Visteon Co. (NASDAQ:VC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,586 shares of the company’s stock, valued at approximately $323,000.

Other hedge funds have also modified their holdings of the company. Tectonic Advisors LLC acquired a new stake in Visteon during the 4th quarter worth approximately $3,187,000. Westfield Capital Management Co. LP raised its holdings in Visteon by 11.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 664,137 shares of the company’s stock worth $91,697,000 after buying an additional 65,593 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Visteon by 1,842.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 27,444 shares of the company’s stock worth $3,789,000 after buying an additional 26,031 shares during the period. Comerica Bank acquired a new stake in Visteon during the 3rd quarter worth approximately $12,222,000. Finally, AQR Capital Management LLC raised its holdings in Visteon by 40.4% during the 3rd quarter. AQR Capital Management LLC now owns 66,670 shares of the company’s stock worth $9,205,000 after buying an additional 19,196 shares during the period. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Visteon from $160.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Royal Bank of Canada lowered their price objective on shares of Visteon from $188.00 to $146.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Barclays upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Wells Fargo & Company raised their target price on shares of Visteon from $101.00 to $106.00 and gave the company an “underweight” rating in a research note on Wednesday, February 21st. Finally, Bank of America decreased their target price on shares of Visteon from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Visteon presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

Visteon Stock Performance

NASDAQ:VC opened at $108.16 on Friday. The stock’s 50-day moving average is $114.50 and its 200-day moving average is $119.20. Visteon Co. has a 1-year low of $105.76 and a 1-year high of $159.87. The stock has a market cap of $2.97 billion, a P/E ratio of 6.30, a price-to-earnings-growth ratio of 0.48 and a beta of 1.65. The company has a current ratio of 1.74, a quick ratio of 1.42 and a debt-to-equity ratio of 0.28.

Visteon (NASDAQ:VC) last announced its earnings results on Tuesday, February 20th. The company reported $13.01 EPS for the quarter, beating the consensus estimate of $2.09 by $10.92. Visteon had a return on equity of 57.45% and a net margin of 12.29%. The business had revenue of $990.00 million for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $1.32 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. Equities research analysts anticipate that Visteon Co. will post 8.69 earnings per share for the current year.

Visteon Profile

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.