Visteon (NASDAQ:VC) Shares Gap Up on Earnings Beat

Shares of Visteon Co. (NASDAQ:VC - Get Free Report) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $87.61, but opened at $92.26. Visteon shares last traded at $92.71, with a volume of 132,716 shares trading hands.

The company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.29. Visteon had a net margin of 13.79% and a return on equity of 51.69%. The firm had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.60 million. During the same quarter last year, the business posted $2.35 earnings per share. The company's quarterly revenue was down 3.4% on a year-over-year basis.

Wall Street Analyst Weigh In

VC has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on shares of Visteon from $144.00 to $129.00 and set an "outperform" rating on the stock in a report on Thursday, August 22nd. Barclays cut their price target on shares of Visteon from $145.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, October 15th. Morgan Stanley cut their price target on shares of Visteon from $135.00 to $100.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 14th. Wolfe Research initiated coverage on shares of Visteon in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Finally, TD Cowen cut their price target on shares of Visteon from $142.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Visteon presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.93.

Insider Buying and Selling at Visteon

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of Visteon stock in a transaction on Monday, July 29th. The shares were sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the sale, the senior vice president now directly owns 5,988 shares of the company's stock, valued at approximately $669,039.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Visteon

Several hedge funds and other institutional investors have recently bought and sold shares of VC. Signaturefd LLC increased its position in shares of Visteon by 70.8% during the second quarter. Signaturefd LLC now owns 287 shares of the company's stock worth $31,000 after acquiring an additional 119 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Visteon during the first quarter worth about $48,000. Mather Group LLC. bought a new stake in shares of Visteon during the second quarter worth about $59,000. Acadian Asset Management LLC bought a new stake in shares of Visteon during the second quarter worth about $89,000. Finally, Motco bought a new stake in shares of Visteon during the first quarter worth about $106,000. 99.71% of the stock is owned by institutional investors.

Visteon Trading Up 5.5 %

The company has a quick ratio of 1.50, a current ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm's 50-day moving average price is $94.67 and its 200 day moving average price is $103.97. The company has a market capitalization of $2.55 billion, a P/E ratio of 4.78, a P/E/G ratio of 0.43 and a beta of 1.45.

Visteon Company Profile

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.