JPMorgan Chase & Co. Cuts Visteon (NASDAQ:VC) Price Target to $145.00

Visteon (NASDAQ:VC) had its target price decreased by JPMorgan Chase & Co. from $170.00 to $145.00 in a report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

VC has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Visteon in a report on Wednesday, July 29th. Wells Fargo & Company cut their price objective on Visteon from $137.00 to $134.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Robert W. Baird restated a “neutral” rating and issued a $121.00 price objective on shares of Visteon in a research report on Friday, June 26th. Wolfe Research downgraded shares of Visteon from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada dropped their target price on shares of Visteon from $130.00 to $129.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.18.

Visteon Trading Up 0.5%

Visteon stock opened at $98.00 on Tuesday. The stock has a market cap of $2.62 billion, a P/E ratio of 12.81, a PEG ratio of 0.63 and a beta of 1.30. Visteon has a fifty-two week low of $83.49 and a fifty-two week high of $128.11. The firm’s fifty day moving average price is $103.54 and its 200-day moving average price is $103.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.45 and a current ratio of 1.78.

Visteon (NASDAQ:VC) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.30). Visteon had a return on equity of 14.61% and a net margin of 5.58%.The business had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $955.78 million. During the same quarter last year, the business posted $2.39 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. Equities research analysts forecast that Visteon will post 8.38 earnings per share for the current fiscal year.

Visteon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.375 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.50 dividend on an annualized basis and a yield of 1.5%. Visteon’s dividend payout ratio (DPR) is presently 19.61%.

Hedge Funds Weigh In On Visteon

A number of hedge funds and other institutional investors have recently modified their holdings of VC. Clearstead Advisors LLC raised its holdings in shares of Visteon by 183.7% during the 4th quarter. Clearstead Advisors LLC now owns 576 shares of the company’s stock valued at $55,000 after buying an additional 373 shares in the last quarter. Versant Capital Management Inc lifted its position in Visteon by 58.7% in the 2nd quarter. Versant Capital Management Inc now owns 581 shares of the company’s stock worth $58,000 after buying an additional 215 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Visteon by 54.8% in the fourth quarter. Hantz Financial Services Inc. now owns 655 shares of the company’s stock worth $62,000 after buying an additional 232 shares in the last quarter. Nykredit A S purchased a new stake in Visteon in the second quarter worth approximately $119,000. Finally, OP Asset Management Ltd bought a new position in Visteon during the first quarter valued at approximately $116,000. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

About Visteon

Visteon Corporation (NASDAQ:VC) is a global automotive technology company that develops and supplies electronic products and software for vehicle manufacturers. Its solutions are designed to support the transition toward connected, digital and software-defined vehicles.

The company’s product portfolio includes digital instrument clusters, vehicle information displays, infotainment systems, cockpit domain controllers and connected-car technologies. Visteon also develops battery-management systems and other electronics used in electric and hybrid vehicles, as well as climate-control and thermal-management electronics for automotive applications.

Visteon was established in 2000 after being spun off from Ford Motor Company and is headquartered in Van Buren Township, Michigan.