Visteon Corp (NYSE:VC) shares traded down 5.1% on Tuesday . The company traded as low as $95.09 and last traded at $95.34. 954,500 shares were traded during trading, an increase of 112% from the average session volume of 449,678 shares. The stock had previously closed at $100.50.
A number of research analysts recently weighed in on the company. Wells Fargo & Co lowered Visteon from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $146.00 to $137.00 in a research report on Tuesday, July 17th. Goldman Sachs Group lowered Visteon from a “buy” rating to a “neutral” rating and set a $142.00 price objective for the company. in a research report on Friday, July 13th. Longbow Research set a $145.00 price objective on Visteon and gave the company a “buy” rating in a research report on Thursday, July 26th. Raymond James reaffirmed a “buy” rating on shares of Visteon in a research report on Monday, August 20th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $123.00 price objective on shares of Visteon in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $137.47.
The company has a quick ratio of 1.76, a current ratio of 1.97 and a debt-to-equity ratio of 0.47.
In other news, insider Robert R. Vallance sold 850 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $116.85, for a total value of $99,322.50. Following the transaction, the insider now directly owns 4,414 shares in the company, valued at approximately $515,775.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sachin Lawande sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $118.00, for a total value of $295,000.00. Following the completion of the transaction, the chief executive officer now owns 65,109 shares in the company, valued at $7,682,862. The disclosure for this sale can be found here. In the last three months, insiders sold 8,350 shares of company stock valued at $1,028,373. Corporate insiders own 0.19% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Visteon by 27.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,463 shares of the auto parts company’s stock worth $318,000 after buying an additional 532 shares during the last quarter. Waddell & Reed Financial Inc. lifted its position in Visteon by 13.0% during the second quarter. Waddell & Reed Financial Inc. now owns 773,909 shares of the auto parts company’s stock valued at $100,020,000 after purchasing an additional 88,745 shares in the last quarter. Alps Advisors Inc. lifted its position in Visteon by 35.1% during the second quarter. Alps Advisors Inc. now owns 6,177 shares of the auto parts company’s stock valued at $773,000 after purchasing an additional 1,604 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in Visteon during the second quarter valued at $622,000. Finally, Robecosam AG lifted its position in Visteon by 56.0% during the second quarter. Robecosam AG now owns 390,000 shares of the auto parts company’s stock valued at $50,138,000 after purchasing an additional 140,000 shares in the last quarter.
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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