BorgWarner Inc. (BWA) Shares Gap Up to $32.26
BorgWarner Inc. (NYSE:BWA) shares gapped up prior to trading on Thursday . The stock had previously closed at $32.13, but opened at $32.26. BorgWarner shares last traded at $32.96, with a volume of 888,567 shares changing hands.
A number of research analysts recently weighed in on BWA shares. TheStreet cut BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, June 2nd. Royal Bank Of Canada lifted their target price on BorgWarner from $33.00 to $39.00 and gave the company a “sector perform” rating in a report on Friday, April 1st. Citigroup Inc. cut BorgWarner from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Tuesday, March 29th. Robert W. Baird reiterated a “buy” rating on shares of BorgWarner in a report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, April 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. BorgWarner currently has an average rating of “Hold” and an average price target of $42.92.
The firm’s 50 day moving average is $31.91 and its 200 day moving average is $33.66. The stock has a market capitalization of $7.19 billion and a PE ratio of 12.43.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. The business earned $2.27 billion during the quarter, compared to the consensus estimate of $2.22 billion. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. On average, equities research analysts anticipate that BorgWarner Inc. will post $3.23 EPS for the current year.
In related news, Director Dennis C. Cuneo sold 2,500 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $33.53, for a total value of $83,825.00. Following the completion of the sale, the director now directly owns 21,407 shares in the company, valued at $717,776.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ronald T. Hundzinski sold 3,721 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $35.06, for a total transaction of $130,458.26. Following the completion of the sale, the chief financial officer now owns 132,947 shares of the company’s stock, valued at $4,661,121.82. The disclosure for this sale can be found here.
Other large investors have modified their holdings of the company. ProShare Advisors LLC boosted its stake in shares of BorgWarner by 7.8% in the fourth quarter. ProShare Advisors LLC now owns 32,857 shares of the company’s stock worth $1,420,000 after buying an additional 2,377 shares in the last quarter. New York State Common Retirement Fund boosted its stake in BorgWarner by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 635,800 shares of the company’s stock worth $27,486,000 after buying an additional 6,800 shares during the period. OppenheimerFunds Inc. boosted its stake in BorgWarner by 10.0% in the fourth quarter. OppenheimerFunds Inc. now owns 647,777 shares of the company’s stock worth $28,011,000 after buying an additional 58,997 shares during the period. Vanguard Group Inc. boosted its stake in BorgWarner by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 19,048,861 shares of the company’s stock worth $823,483,000 after buying an additional 455,193 shares during the period. Finally, GAM Holding AG boosted its stake in BorgWarner by 96.0% in the fourth quarter. GAM Holding AG now owns 40,822 shares of the company’s stock worth $1,765,000 after buying an additional 19,994 shares during the period.
BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.
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