BorgWarner Inc. (BWA) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of BorgWarner Inc. (NYSE:BWA) from a hold rating to a buy rating in a report published on Friday. The firm currently has $56.00 target price on the auto parts company’s stock.
According to Zacks, “BorgWarner’s 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. It has also provided a positive guidance for fiscal 2017. Moreover, a healthy balance sheet and ample cash flow helps BorgWarner to return capital to its shareholders’ and undertake acquisitions.”
Several other equities analysts have also recently issued reports on BWA. Jefferies Group LLC restated a buy rating and set a $50.00 price objective on shares of BorgWarner in a research note on Wednesday, May 31st. Deutsche Bank AG restated a buy rating and set a $54.00 price objective on shares of BorgWarner in a research note on Wednesday, May 31st. ValuEngine cut BorgWarner from a strong-buy rating to a buy rating in a research note on Friday, June 2nd. Morgan Stanley cut their target price on BorgWarner from $34.00 to $32.00 and set an underweight rating on the stock in a research note on Friday, June 9th. Finally, Bank of America Corporation reiterated an underperform rating and issued a $27.00 target price (down from $30.00) on shares of BorgWarner in a research note on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $44.20.
Shares of BorgWarner (NYSE:BWA) opened at 50.50 on Friday. The stock has a market cap of $10.66 billion, a P/E ratio of 56.30 and a beta of 1.73. BorgWarner has a 52-week low of $33.09 and a 52-week high of $50.51. The company has a 50-day moving average of $46.01 and a 200 day moving average of $43.15.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts forecast that BorgWarner will post $3.70 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was first published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/09/26/borgwarner-inc-bwa-stock-rating-upgraded-by-zacks-investment-research.html.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Wednesday, August 30th. BorgWarner’s payout ratio is currently 62.92%.
In related news, insider Brady D. Ericson sold 11,052 shares of BorgWarner stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, the insider now owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tonit M. Calaway sold 3,000 shares of BorgWarner 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 completion of the transaction, the executive vice president now directly owns 34,120 shares in the company, valued at approximately $1,535,058.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in BorgWarner by 6.8% in the 1st quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock worth $113,000 after purchasing an additional 171 shares in the last quarter. CENTRAL TRUST Co increased its stake in BorgWarner by 5.3% in the 2nd quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock worth $114,000 after purchasing an additional 135 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in BorgWarner by 13.7% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 354 shares in the last quarter. Exane Derivatives purchased a new position in BorgWarner in the 2nd quarter worth about $135,000. Finally, Global X Management Co. LLC increased its stake in BorgWarner by 29.9% in the 1st quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock worth $154,000 after purchasing an additional 851 shares in the last quarter. 91.09% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BorgWarner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner Inc. and related companies with MarketBeat.com's FREE daily email newsletter.