Visteon (NASDAQ:VC) Trading 7.5% Higher After Earnings Beat

Visteon Co. (NASDAQ:VC)’s share price traded up 7.5% on Tuesday following a better than expected earnings announcement. The stock traded as high as $89.78 and last traded at $89.45. 99,949 shares traded hands during trading, a decline of 67% from the average session volume of 298,370 shares. The stock had previously closed at $83.21.

The company reported $4.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $2.47. Visteon had a return on equity of 46.19% and a net margin of 13.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VC shares. Barclays dropped their target price on shares of Visteon from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. 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 report on Monday, October 21st. Wells Fargo & Company lowered their target price on Visteon from $122.00 to $119.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Royal Bank of Canada cut their price target on Visteon from $129.00 to $124.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com lowered shares of Visteon from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Visteon presently has an average rating of “Moderate Buy” and an average price target of $125.23.

Institutional Trading of Visteon

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Visteon by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,909,217 shares of the company’s stock worth $258,106,000 after purchasing an additional 16,442 shares during the period. American Century Companies Inc. boosted its stake in Visteon by 58.8% during the fourth quarter. American Century Companies Inc. now owns 1,448,017 shares of the company’s stock worth $128,468,000 after buying an additional 536,073 shares during the period. Invesco Ltd. increased its position in Visteon by 5.6% during the fourth quarter. Invesco Ltd. now owns 1,184,511 shares of the company’s stock valued at $105,090,000 after acquiring an additional 62,610 shares during the last quarter. State Street Corp raised its stake in shares of Visteon by 0.4% in the third quarter. State Street Corp now owns 1,024,865 shares of the company’s stock valued at $97,608,000 after acquiring an additional 3,918 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Visteon by 5.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 908,715 shares of the company’s stock valued at $80,621,000 after acquiring an additional 45,058 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Stock Up 7.7 %

The stock has a market cap of $2.48 billion, a P/E ratio of 4.86, a price-to-earnings-growth ratio of 0.36 and a beta of 1.44. The company’s fifty day moving average price is $85.85 and its 200-day moving average price is $91.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.47 and a current ratio of 1.82.

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.