Autoliv Inc. (ALV) Downgraded by Handelsbanken to Accumulate
Several other brokerages have also issued reports on ALV. Zacks Investment Research lowered shares of Autoliv from a buy rating to a hold rating in a research report on Tuesday, June 21st. Berenberg Bank assumed coverage on shares of Autoliv in a research report on Friday, June 17th. They set a hold rating and a $109.00 target price for the company. Citigroup Inc. dropped their target price on shares of Autoliv from $121.00 to $113.00 and set a neutral rating for the company in a research report on Thursday, July 28th. Wells Fargo & Co. reiterated a hold rating on shares of Autoliv in a research report on Tuesday, July 26th. Finally, RBC Capital Markets reiterated an underperform rating and set a $92.00 target price (down from $95.00) on shares of Autoliv in a research report on Monday, July 25th. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of C$101.39.
Shares of Autoliv (NYSE:ALV) opened at 101.19 on Monday. The firm has a market capitalization of $8.93 billion, a PE ratio of 15.79 and a beta of 1.29. The stock’s 50 day moving average is $105.57 and its 200 day moving average is $112.35. Autoliv has a 52-week low of $95.34 and a 52-week high of $129.37.
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Autoliv (NYSE:ALV) last issued its quarterly earnings data on Friday, July 22nd. The company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.71 by $0.04. The company earned $2.58 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Autoliv had a net margin of 5.83% and a return on equity of 16.97%. Autoliv’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. On average, equities research analysts forecast that Autoliv will post $6.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders 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 yield of 2.29%. The ex-dividend date of this dividend is Monday, November 14th. Autoliv’s payout ratio is currently 36.19%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its stake in Autoliv by 0.5% in the second quarter. Mackenzie Financial Corp now owns 3,353 shares of the company’s stock worth $360,000 after buying an additional 18 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Autoliv by 2.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,226 shares of the company’s stock worth $215,000 after buying an additional 44 shares in the last quarter. Hartford Investment Management Co. increased its stake in Autoliv by 4.1% in the second quarter. Hartford Investment Management Co. now owns 1,862 shares of the company’s stock worth $200,000 after buying an additional 73 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Autoliv by 1.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,822 shares of the company’s stock worth $840,000 after buying an additional 74 shares in the last quarter. Finally, Coastline Trust Co increased its stake in Autoliv by 0.6% in the second quarter. Coastline Trust Co now owns 15,910 shares of the company’s stock worth $1,709,000 after buying an additional 90 shares in 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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