Autoliv (ALV) Stock Rating Upgraded by Zacks Investment Research
Autoliv (NYSE:ALV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Autoliv has set a sales target of more than $10 billion and approximately 13% adjusted operating margin by 2020 on the back of new product launches and improving demand for light vehicles. Moreover, strong sales growth in China, India, ASEAN and South America will help the company drive its financials. Further, it actively pursues capital deployment strategies to enhance shareholder confidence. The company also follows acquisitions and joint ventures to expand its business and widen its product offering. However, new tariffs and rise in commodity prices might hurt Autoliv’s profit margin. Further, new emission standards and emissions-testing procedure in Europe are expected to hamper vehicle sales in Europe and North America. Also, in the last three months, shares of the company have underperformed the industry it belongs to.”
A number of other brokerages also recently weighed in on ALV. BMO Capital Markets boosted their target price on Autoliv from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, June 11th. Morgan Stanley assumed coverage on Autoliv in a research note on Tuesday, June 19th. They issued an “overweight” rating and a $180.00 target price on the stock. Mizuho restated a “buy” rating and issued a $160.00 target price on shares of Autoliv in a research note on Wednesday, June 6th. Longbow Research set a $168.00 target price on Autoliv and gave the stock a “buy” rating in a research note on Friday, June 1st. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $176.00 price target on shares of Autoliv in a report on Sunday, June 24th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $124.58.
Autoliv (NYSE:ALV) last announced its earnings results on Friday, July 27th. The auto parts company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.34. Autoliv had a return on equity of 17.38% and a net margin of 3.09%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. analysts forecast that Autoliv will post 7.96 EPS for the current fiscal year.
In other Autoliv news, Director Jan Carlson sold 42,589 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $89.53, for a total transaction of $3,812,993.17. Following the sale, the director now owns 53,579 shares of the company’s stock, valued at approximately $4,796,927.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.
A number of hedge funds have recently modified their holdings of ALV. Wells Fargo & Company MN raised its holdings in Autoliv by 23.1% during the 1st quarter. Wells Fargo & Company MN now owns 32,926 shares of the auto parts company’s stock valued at $4,806,000 after acquiring an additional 6,178 shares during the period. Rhumbline Advisers increased its holdings in shares of Autoliv by 4.5% in the first quarter. Rhumbline Advisers now owns 22,247 shares of the auto parts company’s stock worth $3,247,000 after purchasing an additional 965 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Autoliv by 12.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,410 shares of the auto parts company’s stock worth $2,103,000 after purchasing an additional 1,573 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Autoliv by 182.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 17,373 shares of the auto parts company’s stock worth $2,537,000 after purchasing an additional 11,219 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Autoliv by 2.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 189,668 shares of the auto parts company’s stock worth $27,681,000 after purchasing an additional 5,133 shares during the period. 40.40% of the stock is currently owned by institutional investors and hedge funds.
Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry worldwide. The company operates through two segments, Passive Safety and Electronics. It offers modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, battery cable cutters, pedestrian protection systems, and child seats.
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