Citigroup Lowers BorgWarner (BWA) Price Target to $44.00
BorgWarner (NYSE:BWA) had its price target lowered by investment analysts at Citigroup from $52.00 to $44.00 in a report released on Friday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the auto parts company’s stock. Citigroup’s price target suggests a potential upside of 16.25% from the company’s previous close.
BWA has been the subject of several other reports. Wells Fargo & Co raised BorgWarner from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $57.00 to $56.00 in a research note on Wednesday, July 18th. Goldman Sachs Group upgraded BorgWarner from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $58.00 in a report on Monday, June 25th. Wolfe Research initiated coverage on BorgWarner in a report on Tuesday, October 2nd. They issued an “outperform” rating on the stock. BMO Capital Markets set a $60.00 price target on BorgWarner and gave the stock a “buy” rating in a report on Thursday, September 20th. Finally, Buckingham Research reduced their price target on BorgWarner from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. BorgWarner has an average rating of “Buy” and a consensus target price of $56.43.
NYSE:BWA opened at $37.85 on Friday. The company has a market capitalization of $8.94 billion, a PE ratio of 9.73, a P/E/G ratio of 1.22 and a beta of 1.88. BorgWarner has a 1 year low of $37.37 and a 1 year high of $58.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.23.
In other BorgWarner news, VP Thomas J. Mcgill sold 3,260 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $44.55, for a total transaction of $145,233.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tonit M. Calaway sold 4,590 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $46.01, for a total value of $211,185.90. Following the transaction, the executive vice president now owns 34,982 shares in the company, valued at $1,609,521.82. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Twin Capital Management Inc. increased its holdings in BorgWarner by 522.3% during the 2nd quarter. Twin Capital Management Inc. now owns 52,540 shares of the auto parts company’s stock worth $2,268,000 after purchasing an additional 44,097 shares during the period. Toronto Dominion Bank boosted its position in BorgWarner by 33.2% during the 2nd quarter. Toronto Dominion Bank now owns 143,291 shares of the auto parts company’s stock valued at $6,183,000 after acquiring an additional 35,719 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in BorgWarner by 3.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,102,932 shares of the auto parts company’s stock valued at $47,603,000 after acquiring an additional 41,313 shares in the last quarter. Robecosam AG boosted its position in BorgWarner by 0.5% during the 2nd quarter. Robecosam AG now owns 293,100 shares of the auto parts company’s stock valued at $12,817,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its position in BorgWarner by 2.7% during the 2nd quarter. Advisors Capital Management LLC now owns 59,842 shares of the auto parts company’s stock valued at $2,583,000 after acquiring an additional 1,580 shares in the last quarter. Institutional investors own 91.74% of the company’s stock.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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