Visteon (NYSE:VC) Stock Price Down 9.2%

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Visteon Corp (NYSE:VC) shares fell 9.2% during mid-day trading on Friday . The stock traded as low as $61.34 and last traded at $61.92, 589,576 shares changed hands during mid-day trading. A decline of 6% from the average session volume of 626,061 shares. The stock had previously closed at $68.18.

Several brokerages have issued reports on VC. Deutsche Bank set a $64.00 price objective on Visteon and gave the company a “hold” rating in a research report on Friday, July 26th. Citigroup lifted their price objective on Visteon from $58.00 to $69.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Barclays set a $60.00 price objective on Visteon and gave the company a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research downgraded Visteon from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 21st. Finally, Cowen set a $72.00 target price on Visteon and gave the company a “buy” rating in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Visteon currently has a consensus rating of “Hold” and an average price target of $73.33.

The company has a 50 day moving average price of $61.01 and a 200 day moving average price of $65.67.

Visteon (NYSE:VC) last released its earnings results on Thursday, July 25th. The auto parts company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.07). The firm had revenue of $733.00 million during the quarter, compared to the consensus estimate of $719.55 million. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 earnings per share.

In related news, Director Robert Manzo acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average cost of $48.76 per share, with a total value of $195,040.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $146,280. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry James Wilson acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were bought at an average cost of $53.92 per share, with a total value of $107,840.00. Following the completion of the purchase, the director now owns 12,000 shares of the company’s stock, valued at $647,040. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Water Island Capital LLC grew its stake in shares of Visteon by 77.1% during the first quarter. Water Island Capital LLC now owns 7,692 shares of the auto parts company’s stock worth $518,000 after purchasing an additional 3,349 shares during the period. Marathon Asset Management LLP acquired a new stake in shares of Visteon during the second quarter worth $37,219,000. ARS Investment Partners LLC grew its stake in shares of Visteon by 53.0% during the first quarter. ARS Investment Partners LLC now owns 122,645 shares of the auto parts company’s stock worth $8,260,000 after purchasing an additional 42,485 shares during the period. Sumitomo Life Insurance Co. grew its stake in shares of Visteon by 2.7% during the second quarter. Sumitomo Life Insurance Co. now owns 15,098 shares of the auto parts company’s stock worth $884,000 after purchasing an additional 398 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Visteon by 12.0% during the first quarter. Janus Henderson Group PLC now owns 2,931,012 shares of the auto parts company’s stock worth $197,404,000 after purchasing an additional 313,059 shares during the period.

About Visteon (NYSE:VC)

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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