Morgan Stanley set a $48.00 price target on BorgWarner (NYSE:BWA) in a research note released on Thursday, TipRanks reports. The brokerage currently has a buy rating on the auto parts company’s stock.
A number of other brokerages also recently weighed in on BWA. Zacks Investment Research downgraded shares of BorgWarner from a hold rating to a sell rating in a research report on Tuesday, April 23rd. Bank of America reiterated a neutral rating and issued a $46.00 price objective (up previously from $42.00) on shares of BorgWarner in a research report on Tuesday, April 23rd. ValuEngine upgraded shares of BorgWarner from a strong sell rating to a sell rating in a research report on Friday, February 15th. TheStreet upgraded shares of BorgWarner from a c+ rating to a b- rating in a research report on Thursday, January 31st. Finally, Robert W. Baird upgraded shares of BorgWarner to a top pick rating in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $48.75.
NYSE:BWA traded down $0.39 during mid-day trading on Thursday, hitting $36.26. The company’s stock had a trading volume of 1,415,800 shares, compared to its average volume of 1,647,294. BorgWarner has a 1 year low of $32.46 and a 1 year high of $53.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.62. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 1.13 and a beta of 1.74.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, April 25th. The auto parts company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. BorgWarner had a net margin of 8.39% and a return on equity of 21.64%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The firm’s revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts predict that BorgWarner will post 4.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.88%. BorgWarner’s payout ratio is currently 15.18%.
In other news, VP Joel Wiegert sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $38.74, for a total value of $232,440.00. Following the sale, the vice president now directly owns 27,420 shares in the company, valued at approximately $1,062,250.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tonit M. Calaway sold 12,000 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $41.93, for a total transaction of $503,160.00. Following the completion of the sale, the executive vice president now owns 28,066 shares in the company, valued at $1,176,807.38. The disclosure for this sale can be found here. Insiders sold a total of 23,524 shares of company stock valued at $967,536 in the last three months. 0.75% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in BWA. Oregon Public Employees Retirement Fund raised its holdings in shares of BorgWarner by 3,261.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,895,153 shares of the auto parts company’s stock valued at $112,000 after purchasing an additional 3,779,264 shares in the last quarter. Norges Bank acquired a new stake in shares of BorgWarner in the 4th quarter valued at $74,908,000. JPMorgan Chase & Co. raised its holdings in shares of BorgWarner by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,635,725 shares of the auto parts company’s stock valued at $283,875,000 after purchasing an additional 1,661,618 shares in the last quarter. Harris Associates L P raised its holdings in shares of BorgWarner by 29.8% in the 4th quarter. Harris Associates L P now owns 6,663,643 shares of the auto parts company’s stock valued at $231,495,000 after purchasing an additional 1,530,716 shares in the last quarter. Finally, FMR LLC raised its stake in BorgWarner by 133.6% during the 4th quarter. FMR LLC now owns 2,625,297 shares of the auto parts company’s stock worth $91,202,000 after acquiring an additional 1,501,562 shares in the last quarter. Institutional investors and hedge funds own 91.50% of the company’s stock.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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