Cibc World Markets Corp Invests $227,000 in Visteon Co. (NASDAQ:VC)

Cibc World Markets Corp bought a new stake in Visteon Co. (NASDAQ:VC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,553 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Visteon in the fourth quarter valued at approximately $10,170,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Visteon during the 3rd quarter worth approximately $10,779,000. JPMorgan Chase & Co. raised its stake in Visteon by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 638,821 shares of the company’s stock valued at $60,841,000 after acquiring an additional 88,288 shares during the period. Nordea Investment Management AB acquired a new stake in Visteon during the 4th quarter valued at $7,730,000. Finally, Royce & Associates LP boosted its position in Visteon by 39.2% during the fourth quarter. Royce & Associates LP now owns 281,508 shares of the company’s stock worth $24,975,000 after purchasing an additional 79,294 shares during the period. 99.71% of the stock is owned by institutional investors.

Visteon Stock Up 2.8 %

Shares of NASDAQ VC opened at $84.36 on Thursday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 8.60, a PEG ratio of 0.42 and a beta of 1.39. The stock’s fifty day moving average is $84.29 and its 200 day moving average is $88.72. Visteon Co. has a 52 week low of $75.75 and a 52 week high of $119.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.47 and a current ratio of 1.74.

Visteon (NASDAQ:VC) last issued its earnings results on Tuesday, February 18th. The company reported $4.44 EPS for the quarter, beating the consensus estimate of $1.97 by $2.47. Visteon had a net margin of 7.09% and a return on equity of 24.58%. The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $954.17 million. Sell-side analysts forecast that Visteon Co. will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Visteon from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada lowered their price target on shares of Visteon from $127.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. TD Cowen initiated coverage on Visteon in a report on Friday, March 7th. They set a “buy” rating and a $108.00 price objective for the company. Wells Fargo & Company increased their target price on Visteon from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Barclays reduced their price target on Visteon from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Visteon presently has a consensus rating of “Moderate Buy” and an average price target of $117.25.

Visteon 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.