Royal Bank of Canada upgraded shares of Visteon (NYSE:VC) from a sector perform rating to an outperform rating in a report published on Friday, BenzingaRatingsTable reports. The brokerage currently has $106.00 price target on the auto parts company’s stock, up from their prior price target of $90.00.
Several other research firms also recently weighed in on VC. Barclays reissued an equal weight rating and issued a $82.00 target price (up from $60.00) on shares of Visteon in a research report on Friday, October 25th. Robert W. Baird set a $81.00 price target on shares of Visteon and gave the company a buy rating in a report on Thursday, September 26th. Cowen restated a market perform rating and issued a $115.00 price target (up previously from $79.00) on shares of Visteon in a research report on Friday, October 25th. Citigroup set a $86.00 price objective on shares of Visteon and gave the stock a hold rating in a research note on Friday, September 13th. Finally, Guggenheim assumed coverage on shares of Visteon in a research report on Tuesday, October 15th. They set a neutral rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Visteon presently has a consensus rating of Hold and a consensus target price of $80.23.
Visteon stock opened at $88.62 on Friday. Visteon has a 1 year low of $44.04 and a 1 year high of $105.99. The firm’s 50 day moving average price is $92.44 and its two-hundred day moving average price is $74.35.
In other news, VP Brett D. Pynnonen sold 4,451 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $95.87, for a total value of $426,717.37. Following the transaction, the vice president now directly owns 2,840 shares of the company’s stock, valued at $272,270.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sunil K. Bilolikar sold 1,870 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.27, for a total value of $181,894.90. Following the sale, the senior vice president now owns 1,874 shares of the company’s stock, valued at $182,283.98. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VC. Metropolitan Life Insurance Co NY increased its position in Visteon by 81.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 16,329 shares of the auto parts company’s stock worth $1,348,000 after purchasing an additional 7,329 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Visteon by 261.9% during the 3rd quarter. Millennium Management LLC now owns 323,854 shares of the auto parts company’s stock valued at $26,730,000 after buying an additional 523,854 shares during the last quarter. Partner Investment Management L.P. acquired a new stake in shares of Visteon during the 3rd quarter valued at about $408,000. Point72 Asset Management L.P. acquired a new stake in shares of Visteon during the 3rd quarter valued at about $21,649,000. Finally, Penserra Capital Management LLC acquired a new position in Visteon in the third quarter worth approximately $314,000.
About Visteon
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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