Visteon (VC) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Visteon (NYSE:VC) from a hold rating to a strong sell rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Products offered by the Company includes climate systems, powertrain control systems, engine induction systems, cockpit modules, front and rear lighting systems, engine management systems, and electronic products comprising integrated solutions, audio and infotainment, analog/digital instrument cluster, displays, control panel. Markets served by the Company include original equipment manufacturers and automotive aftermarket. Visteon Corp. is headquartered in Michigan, USA. “

Several other analysts have also recently commented on the stock. TheStreet upgraded shares of Visteon from a c rating to a b- rating in a research note on Thursday, March 7th. Longbow Research set a $110.00 price target on shares of Visteon and gave the stock a buy rating in a research note on Friday, February 22nd. Jefferies Financial Group upgraded shares of Visteon from an underperform rating to a hold rating and decreased their price target for the stock from $79.00 to $62.00 in a research note on Monday, April 29th. They noted that the move was a valuation call. UBS Group decreased their price target on shares of Visteon from $80.00 to $75.00 and set a neutral rating on the stock in a research note on Monday, April 1st. Finally, B. Riley cut shares of Visteon from a buy rating to a neutral rating and decreased their price target for the stock from $130.00 to $75.00 in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $96.06.

VC opened at $46.92 on Tuesday. Visteon has a fifty-two week low of $44.83 and a fifty-two week high of $139.45.

Visteon (NYSE:VC) last released its earnings results on Thursday, April 25th. The auto parts company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.58). The company had revenue of $737.00 million for the quarter, compared to the consensus estimate of $713.99 million. During the same quarter last year, the business posted $2.08 EPS. The business’s quarterly revenue was down 9.5% compared to the same quarter last year.

A number of hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC purchased a new stake in shares of Visteon during the 1st quarter valued at about $324,000. Equitable Trust Co. raised its position in shares of Visteon by 9.4% during the 1st quarter. Equitable Trust Co. now owns 15,995 shares of the auto parts company’s stock valued at $1,077,000 after buying an additional 1,375 shares in the last quarter. Sandbar Asset Management LLP purchased a new stake in shares of Visteon during the 1st quarter valued at about $1,598,000. BlueMountain Capital Management LLC purchased a new stake in shares of Visteon during the 1st quarter valued at about $1,116,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Visteon during the 1st quarter valued at about $878,000.

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.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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