Autoliv Inc. (ALV) Shares Gap Down to $107.30
Autoliv Inc. (NYSE:ALV)’s share price gapped down prior to trading on Monday . The stock had previously closed at $107.01, but opened at $107.30. Autoliv shares last traded at $109.06, with a volume of 231,414 shares.
ALV has been the subject of a number of research reports. Goldman Sachs Group Inc. downgraded Autoliv from a “neutral” rating to a “sell” rating in a report on Monday, April 18th. Royal Bank Of Canada downgraded Autoliv from a “sector perform” rating to an “underperform” rating and set a $96.00 price objective for the company. in a report on Wednesday, April 13th. They noted that the move was a valuation call. Zacks Investment Research upgraded Autoliv from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Monday, April 11th. Evercore ISI downgraded Autoliv from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $125.00 to $105.00 in a report on Monday, March 14th. Finally, Piper Jaffray Cos. assumed coverage on Autoliv in a report on Thursday, June 9th. They issued a “neutral” rating and a $123.00 price objective for the company. Eight equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of C$94.17.
The firm’s 50-day moving average price is $117.65 and its 200-day moving average price is $114.47. The company has a market cap of $9.61 billion and a PE ratio of 17.34.
Autoliv (NYSE:ALV) last released its quarterly earnings results on Friday, April 29th. The company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.15. The company earned $2.43 billion during the quarter, compared to the consensus estimate of $2.33 billion. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 earnings per share. Equities analysts predict that Autoliv Inc. will post $7.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, August 16th.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in Autoliv by 2.2% in the fourth quarter. Advisors Asset Management Inc. now owns 10,641 shares of the company’s stock valued at $1,328,000 after buying an additional 230 shares during the last quarter. Freestone Capital Holdings LLC bought a new position in Autoliv during the fourth quarter valued at approximately $1,728,000. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Autoliv by 7.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 11,059 shares of the company’s stock valued at $1,380,000 after buying an additional 813 shares during the last quarter. Principal Financial Group Inc. raised its position in Autoliv by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 112,881 shares of the company’s stock valued at $14,084,000 after buying an additional 3,225 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Autoliv by 13.5% in the fourth quarter. Bank of Montreal Can now owns 11,202 shares of the company’s stock valued at $1,398,000 after buying an additional 1,336 shares during the last quarter.
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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