Morgan Stanley Cuts BorgWarner (NYSE:BWA) Price Target to $30.00

BorgWarner (NYSE:BWAGet Rating) had its target price cut by equities researchers at Morgan Stanley from $32.00 to $30.00 in a report issued on Wednesday, The Fly reports. Morgan Stanley’s price objective suggests a potential downside of 25.60% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. BNP Paribas started coverage on BorgWarner in a report on Monday, April 11th. They set a “neutral” rating for the company. Citigroup decreased their price target on BorgWarner from $52.00 to $43.00 in a research note on Tuesday, April 5th. Deutsche Bank Aktiengesellschaft decreased their target price on BorgWarner from $53.00 to $44.00 and set a “hold” rating for the company in a research report on Thursday, April 21st. Wells Fargo & Company cut their price target on BorgWarner from $57.00 to $52.00 in a report on Thursday, May 5th. Finally, The Goldman Sachs Group dropped their target price on BorgWarner from $47.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.50.

BWA opened at $40.32 on Wednesday. The stock has a market capitalization of $9.66 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.33 and a beta of 1.35. The stock’s 50 day moving average price is $37.96 and its 200-day moving average price is $41.75. BorgWarner has a 52-week low of $34.85 and a 52-week high of $55.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 1.72.

BorgWarner (NYSE:BWAGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The auto parts company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.25. BorgWarner had a return on equity of 13.34% and a net margin of 4.57%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Research analysts forecast that BorgWarner will post 4.06 EPS for the current fiscal year.

In related news, EVP Felecia J. Pryor sold 6,590 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $38.01, for a total value of $250,485.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Tonit M. Calaway sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $38.75, for a total value of $155,000.00. Following the completion of the transaction, the chief accounting officer now owns 57,923 shares of the company’s stock, valued at $2,244,516.25. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Acorn Financial Advisory Services Inc. ADV lifted its stake in BorgWarner by 0.5% during the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 50,284 shares of the auto parts company’s stock worth $2,266,000 after purchasing an additional 242 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in BorgWarner by 21.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,401 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 250 shares in the last quarter. Hancock Whitney Corp raised its stake in shares of BorgWarner by 0.6% in the fourth quarter. Hancock Whitney Corp now owns 41,994 shares of the auto parts company’s stock valued at $1,893,000 after acquiring an additional 251 shares in the last quarter. Eaton Vance Management raised its stake in shares of BorgWarner by 3.2% in the fourth quarter. Eaton Vance Management now owns 8,810 shares of the auto parts company’s stock valued at $247,000 after acquiring an additional 276 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of BorgWarner by 0.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,557 shares of the auto parts company’s stock valued at $1,925,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

About BorgWarner (Get Rating)

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.

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