Citigroup Inc. Boosts BorgWarner Inc. (BWA) Price Target to $54.00
BorgWarner Inc. (NYSE:BWA) had its price objective raised by equities research analysts at Citigroup Inc. from $50.00 to $54.00 in a note issued to investors on Monday. The firm currently has a “neutral” rating on the auto parts company’s stock. Citigroup Inc.’s price objective suggests a potential upside of 3.07% from the stock’s previous close.
BWA has been the topic of several other reports. BidaskClub lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating and set a $44.00 price target on shares of BorgWarner in a research report on Wednesday, July 12th. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, September 5th. Jefferies Group LLC restated a “buy” rating and set a $48.00 price target on shares of BorgWarner in a research report on Tuesday, July 4th. Finally, Deutsche Bank AG lifted their price target on BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. BorgWarner currently has a consensus rating of “Hold” and an average target price of $47.72.
BorgWarner (NYSE:BWA) traded down 0.91% during trading on Monday, hitting $52.39. The company’s stock had a trading volume of 1,491,102 shares. The firm has a 50 day moving average of $50.94 and a 200 day moving average of $45.40. The firm has a market cap of $11.06 billion, a P/E ratio of 58.41 and a beta of 1.75. BorgWarner has a 12 month low of $33.09 and a 12 month high of $53.84.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 26th. The auto parts company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that BorgWarner will post $3.78 earnings per share for the current year.
In related news, insider Brady D. Ericson sold 11,052 shares of the stock in a transaction dated Wednesday, August 16th. The stock was 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 $1,062,708.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tonit M. Calaway sold 3,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total value 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. Corporate insiders own 0.66% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BWA. FMR LLC grew its position in shares of BorgWarner by 66.5% during the first quarter. FMR LLC now owns 230,802 shares of the auto parts company’s stock worth $9,645,000 after purchasing an additional 92,176 shares in the last quarter. Teachers Advisors LLC grew its position in shares of BorgWarner by 4.5% during the first quarter. Teachers Advisors LLC now owns 295,053 shares of the auto parts company’s stock worth $12,330,000 after purchasing an additional 12,824 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of BorgWarner during the first quarter worth about $1,199,000. HighTower Advisors LLC grew its position in shares of BorgWarner by 8.3% during the first quarter. HighTower Advisors LLC now owns 26,310 shares of the auto parts company’s stock worth $1,097,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of BorgWarner during the first quarter worth about $1,720,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.
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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