Autoliv Inc. (ALV) Cut to “Accumulate” at Handelsbanken
Autoliv Inc. (NYSE:ALV) was downgraded by stock analysts at Handelsbanken from a “buy” rating to an “accumulate” rating in a note issued to investors on Monday.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Autoliv from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 27th. Citigroup Inc. lowered their price objective on Autoliv from $121.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Berenberg Bank started coverage on Autoliv in a research report on Friday, June 17th. They issued a “hold” rating and a $109.00 price objective for the company. RBC Capital Markets reaffirmed an “underperform” rating and issued a $92.00 price objective (down previously from $95.00) on shares of Autoliv in a research report on Monday, July 25th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Autoliv in a research report on Tuesday, July 26th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$101.39.
Shares of Autoliv (NYSE:ALV) traded up 0.28% during midday trading on Monday, reaching $105.47. The company’s stock had a trading volume of 118,971 shares. Autoliv has a 52 week low of $95.34 and a 52 week high of $129.37. The firm’s 50 day moving average is $105.96 and its 200 day moving average is $112.66. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 16.45 and a beta of 1.29.
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Autoliv (NYSE:ALV) last announced its quarterly earnings data on Friday, July 22nd. The company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.04. The business earned $2.58 billion during the quarter, compared to the consensus estimate of $2.64 billion. Autoliv had a return on equity of 16.97% and a net margin of 5.83%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 earnings per share. Equities analysts forecast that Autoliv will post $6.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Monday, November 14th. Autoliv’s payout ratio is 36.19%.
Several hedge funds have recently made changes to their positions in ALV. Aperio Group LLC raised its stake in shares of Autoliv by 4.1% in the first quarter. Aperio Group LLC now owns 24,568 shares of the company’s stock worth $2,911,000 after buying an additional 957 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Autoliv by 27.5% in the first quarter. IFP Advisors Inc now owns 1,153 shares of the company’s stock worth $137,000 after buying an additional 249 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Autoliv by 37.7% in the first quarter. TIAA CREF Investment Management LLC now owns 23,356 shares of the company’s stock worth $2,767,000 after buying an additional 6,397 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Autoliv by 4.1% in the first quarter. Prudential Financial Inc. now owns 4,847 shares of the company’s stock worth $574,000 after buying an additional 190 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Autoliv by 2.1% in the first quarter. BlackRock Inc. now owns 75,486 shares of the company’s stock worth $8,943,000 after buying an additional 1,580 shares during the last quarter. 33.07% of the stock is currently owned by institutional investors and hedge funds.
Autoliv, Inc is a developer, manufacturer and supplier to the automotive industry of automotive safety systems. The Company operates through two segments: Passive Safety and Electronics. Passive Safety segment includes airbags, seatbelts and steering wheels. Electronics segment includes active safety products, such as camera-based vision systems, night driving assist, automotive radars, brake controls and other active safety systems, and passive safety electronic products, such as restraint electronics and crash sensors.
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