Autoliv Inc. (ALV) Shares Down 7.7%
Shares of Autoliv Inc. (NYSE:ALV) dropped 7.7% during mid-day trading on Friday . The company traded as low as $103.22 and last traded at $105.17, with a volume of 1,198,215 shares. The stock had previously closed at $113.93.
ALV has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Autoliv from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Monday, April 11th. Royal Bank Of Canada cut shares of Autoliv from a “sector perform” rating to an “underperform” rating and set a $96.00 target price for the company. in a research note on Wednesday, April 13th. They noted that the move was a valuation call. Goldman Sachs Group Inc. cut shares of Autoliv from a “neutral” rating to a “sell” rating in a research note on Monday, April 18th. JPMorgan Chase & Co. restated a “hold” rating and set a $117.00 target price on shares of Autoliv in a research note on Monday, May 2nd. Finally, Piper Jaffray Cos. initiated coverage on shares of Autoliv in a research note on Thursday, June 9th. They set a “neutral” rating and a $123.00 target price for the company. Eight research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$94.17.
The company has a market cap of $9.19 billion and a P/E ratio of 16.59. The stock’s 50 day moving average is $115.19 and its 200 day moving average is $113.95.
Autoliv (NYSE:ALV) last posted its quarterly earnings results on Friday, July 22nd. The company reported $1.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.64 billion. Autoliv’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS. On average, equities research analysts anticipate that Autoliv Inc. will post $7.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $2.32 annualized dividend and a yield of 2.23%.
A number of institutional investors recently bought and sold shares of the stock. KBC Group NV raised its position in Autoliv by 2.6% in the fourth quarter. KBC Group NV now owns 10,418 shares of the company’s stock valued at $1,300,000 after buying an additional 260 shares during the last quarter. 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. 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. 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. Finally, BHF Kleinwort Benson Group S.A. bought a new position in Autoliv during the fourth quarter valued at $1,622,000.
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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