Robert W. Baird Cuts BorgWarner (NYSE:BWA) Price Target to $29.00

BorgWarner (NYSE:BWA) had its target price reduced by equities research analysts at Robert W. Baird from $34.00 to $29.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the auto parts company’s stock. Robert W. Baird’s price target suggests a potential upside of 9.77% from the company’s current price.

A number of other research analysts have also issued reports on the company. Piper Sandler reduced their price objective on BorgWarner from $43.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. UBS Group reissued a “neutral” rating and set a $31.00 price target (down previously from $38.00) on shares of BorgWarner in a report on Thursday, April 10th. Morgan Stanley dropped their price objective on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. TD Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.94.

BorgWarner Stock Performance

BorgWarner stock opened at $26.42 on Tuesday. The company has a fifty day moving average price of $28.66 and a two-hundred day moving average price of $31.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. BorgWarner has a 12 month low of $24.40 and a 12 month high of $38.23. The company has a market cap of $5.80 billion, a PE ratio of 18.48, a P/E/G ratio of 0.77 and a beta of 1.12.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. Research analysts expect that BorgWarner will post 4.28 earnings per share for the current year.

Insider Buying and Selling at BorgWarner

In other news, CAO Tonit M. Calaway sold 8,300 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the sale, the chief accounting officer now directly owns 242,257 shares of the company’s stock, valued at $7,284,667.99. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Tania Wingfield sold 24,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total value of $690,960.00. Following the completion of the transaction, the executive vice president now owns 39,110 shares of the company’s stock, valued at $1,125,976.90. This trade represents a 38.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,800 shares of company stock valued at $1,347,701. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On BorgWarner

Several hedge funds have recently made changes to their positions in the company. Yousif Capital Management LLC raised its stake in BorgWarner by 157.3% during the 1st quarter. Yousif Capital Management LLC now owns 88,879 shares of the auto parts company’s stock valued at $2,546,000 after purchasing an additional 54,333 shares during the period. Tounjian Advisory Partners LLC acquired a new position in BorgWarner during the first quarter valued at $1,476,000. Farther Finance Advisors LLC lifted its stake in BorgWarner by 26.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,965 shares of the auto parts company’s stock worth $56,000 after acquiring an additional 407 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in BorgWarner by 26.4% during the 1st quarter. CHICAGO TRUST Co NA now owns 51,381 shares of the auto parts company’s stock worth $1,472,000 after acquiring an additional 10,716 shares during the period. Finally, Arbor Wealth Advisors LLC grew its stake in BorgWarner by 1.1% during the 1st quarter. Arbor Wealth Advisors LLC now owns 108,607 shares of the auto parts company’s stock valued at $3,112,000 after acquiring an additional 1,196 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.