BorgWarner Inc. (BWA) Stock Rating Upgraded by Zacks Investment Research
BorgWarner Inc. (NYSE:BWA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $53.00 price target on the auto parts company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.84% from the company’s current price.
According to Zacks, “Zacks Consensus Estimate for BorgWarner’s annual earnings has been going up of late. High organic net sales growth expectations are likely to aid the company going forward. Huge business opportunities in Asia, the Americas and Europe in the next three years are anticipated to contribute to a major portion of its growth. Moreover, a healthy balance sheet and ample cash flow helps BorgWarner to return capital to its shareholders’ and undertake acquisitions.”
Other equities analysts have also recently issued reports about the stock. Jefferies Group LLC reissued a “buy” rating and issued a $50.00 price objective on shares of BorgWarner in a research note on Wednesday, May 31st. BidaskClub cut shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada reissued a “hold” rating and issued a $44.00 price objective on shares of BorgWarner in a research note on Wednesday, July 12th. Guggenheim began coverage on shares of BorgWarner in a research note on Wednesday, June 21st. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, CLSA began coverage on shares of BorgWarner in a research note on Thursday, June 22nd. They issued a “hold” rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $44.00.
BorgWarner (NYSE BWA) traded up 1.28% during mid-day trading on Thursday, reaching $48.25. 1,260,766 shares of the company’s stock traded hands. The stock has a market capitalization of $10.18 billion, a PE ratio of 53.79 and a beta of 1.73. The stock has a 50-day moving average price of $45.82 and a 200-day moving average price of $43.01. BorgWarner has a 12-month low of $33.09 and a 12-month high of $48.29.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the company posted $0.84 EPS. The business’s revenue was up 2.5% on a year-over-year basis. Equities research analysts expect that BorgWarner will post $3.70 EPS for the current year.
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In related news, insider Brady D. Ericson sold 11,052 shares of BorgWarner stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the completion of the sale, the insider now owns 23,418 shares in the company, valued at approximately $1,062,708.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tonit M. Calaway sold 3,000 shares of BorgWarner stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total transaction of $134,970.00. Following the sale, the executive vice president now owns 34,120 shares of the company’s stock, valued at approximately $1,535,058.80. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Achmea Investment Management B.V. lifted its holdings in BorgWarner by 58.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 14,217 shares of the auto parts company’s stock valued at $601,000 after buying an additional 5,218 shares in the last quarter. USA Financial Portformulas Corp bought a new stake in BorgWarner during the 2nd quarter valued at about $3,611,000. Sentry Investment Management LLC lifted its holdings in BorgWarner by 0.9% during the 2nd quarter. Sentry Investment Management LLC now owns 13,520 shares of the auto parts company’s stock valued at $573,000 after buying an additional 120 shares in the last quarter. Toronto Dominion Bank lifted its holdings in BorgWarner by 24.9% during the 2nd quarter. Toronto Dominion Bank now owns 68,094 shares of the auto parts company’s stock valued at $2,884,000 after buying an additional 13,593 shares in the last quarter. Finally, North Star Asset Management Inc. lifted its holdings in BorgWarner by 13.4% during the 2nd quarter. North Star Asset Management Inc. now owns 64,152 shares of the auto parts company’s stock valued at $2,717,000 after buying an additional 7,560 shares in the last quarter. Institutional investors own 91.11% of the company’s stock.
BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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