State Treasurer State of Michigan trimmed its holdings in shares of Visteon Corp (NYSE:VC) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,100 shares of the auto parts company’s stock after selling 200 shares during the period. State Treasurer State of Michigan’s holdings in Visteon were worth $680,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Pearl River Capital LLC purchased a new position in shares of Visteon during the 4th quarter worth approximately $36,000. BNP Paribas Arbitrage SA increased its stake in Visteon by 76.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 905 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 391 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Visteon by 132.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,981 shares of the auto parts company’s stock valued at $119,000 after purchasing an additional 1,129 shares in the last quarter. Dupont Capital Management Corp purchased a new position in Visteon in the 1st quarter valued at approximately $155,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Visteon in the 4th quarter valued at approximately $153,000.
Several equities analysts recently weighed in on the company. TheStreet downgraded Visteon from a “b-” rating to a “c” rating in a research note on Thursday, May 2nd. Jefferies Financial Group raised Visteon from an “underperform” rating to a “hold” rating and dropped their price objective for the company from $79.00 to $62.00 in a research note on Monday, April 29th. They noted that the move was a valuation call. B. Riley downgraded Visteon from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $130.00 to $75.00 in a research note on Thursday, April 25th. Zacks Investment Research downgraded Visteon from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Robert W. Baird raised Visteon from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $87.00 to $108.00 in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $96.06.
Visteon (NYSE:VC) last announced its earnings results on Thursday, April 25th. The auto parts company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.58). The business had revenue of $737.00 million during the quarter, compared to analysts’ expectations of $713.99 million. The business’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 EPS.
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Visteon Company Profile
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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