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

Visteon Co. (NASDAQ:VC)’s share price shot up 7.5% during trading on Tuesday following a better than expected earnings announcement. The company 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, topping 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 Analyst Weigh In

A number of research analysts recently weighed in on VC shares. Royal Bank of Canada dropped their price target on shares of Visteon from $129.00 to $124.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price target on shares of Visteon from $132.00 to $122.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. StockNews.com downgraded shares of Visteon from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Wells Fargo & Company lowered their price target on shares of Visteon from $122.00 to $119.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, Barclays reduced their price objective on Visteon from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Visteon has an average rating of “Moderate Buy” and a consensus price target of $125.23.

Hedge Funds Weigh In On Visteon

Hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Visteon by 24.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,916 shares of the company’s stock valued at $7,179,000 after acquiring an additional 15,666 shares in the last quarter. Voloridge Investment Management LLC lifted its position in Visteon by 23.4% during the 4th quarter. Voloridge Investment Management LLC now owns 229,114 shares of the company’s stock valued at $20,327,000 after acquiring an additional 43,464 shares during the period. Teza Capital Management LLC bought a new stake in Visteon during the fourth quarter worth about $233,000. Systematic Financial Management LP boosted its stake in Visteon by 3.4% during the fourth quarter. Systematic Financial Management LP now owns 268,495 shares of the company’s stock worth $23,821,000 after acquiring an additional 8,854 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Visteon by 41.2% in the fourth quarter. ProShare Advisors LLC now owns 8,978 shares of the company’s stock worth $797,000 after purchasing an additional 2,618 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’s 50 day simple moving average is $85.85 and its two-hundred day simple moving average is $91.38. The firm has a market cap of $2.48 billion, a P/E ratio of 4.86, a P/E/G ratio of 0.36 and a beta of 1.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.82 and a quick ratio of 1.47.

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.