BorgWarner (NYSE:BWA) Price Target Raised to $48.00

BorgWarner (NYSE:BWAGet Rating) had its target price raised by analysts at Royal Bank of Canada from $46.00 to $48.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the auto parts company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 26.75% from the stock’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley restated a “maintains” rating and issued a $32.00 price objective (up from $30.00) on shares of BorgWarner in a report on Thursday. Barclays dropped their price target on shares of BorgWarner from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th. TheStreet cut shares of BorgWarner from a “b-” rating to a “c+” rating in a research report on Friday, July 15th. Exane BNP Paribas began coverage on shares of BorgWarner in a research note on Monday, April 11th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company lifted their price objective on shares of BorgWarner from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, July 11th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, BorgWarner has a consensus rating of “Hold” and an average price target of $44.67.

BorgWarner Price Performance

BorgWarner stock opened at $37.87 on Thursday. BorgWarner has a 12 month low of $32.28 and a 12 month high of $50.09. The stock’s 50 day moving average is $36.31 and its 200-day moving average is $38.50. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.33 and a beta of 1.39.

BorgWarner (NYSE:BWAGet Rating) last released its earnings results on Wednesday, August 3rd. The auto parts company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.20. BorgWarner had a return on equity of 13.13% and a net margin of 4.36%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts expect that BorgWarner will post 4.09 EPS for the current year.

Insiders Place Their Bets

In other BorgWarner news, CAO Tonit M. Calaway sold 17,543 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $40.27, for a total value of $706,456.61. Following the completion of the sale, the chief accounting officer now directly owns 40,380 shares of the company’s stock, valued at $1,626,102.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BorgWarner news, CAO Tonit M. Calaway sold 17,543 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $40.27, for a total value of $706,456.61. Following the completion of the sale, the chief accounting officer now directly owns 40,380 shares of the company’s stock, valued at $1,626,102.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $38.75, for a total transaction of $155,000.00. Following the transaction, the chief accounting officer now directly 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 currently owned by insiders.

Hedge Funds Weigh In On BorgWarner

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in BorgWarner by 2.2% in the first quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock worth $1,016,505,000 after purchasing an additional 570,039 shares during the period. State Street Corp lifted its position in BorgWarner by 3.7% during the fourth quarter. State Street Corp now owns 10,247,042 shares of the auto parts company’s stock valued at $461,834,000 after purchasing an additional 369,492 shares during the period. Victory Capital Management Inc. lifted its position in BorgWarner by 3.9% during the first quarter. Victory Capital Management Inc. now owns 10,109,422 shares of the auto parts company’s stock valued at $393,159,000 after purchasing an additional 375,207 shares during the period. Diamond Hill Capital Management Inc. lifted its position in BorgWarner by 0.5% during the first quarter. Diamond Hill Capital Management Inc. now owns 6,834,363 shares of the auto parts company’s stock valued at $265,857,000 after purchasing an additional 32,953 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in BorgWarner by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,494,390 shares of the auto parts company’s stock valued at $252,641,000 after purchasing an additional 184,060 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

About BorgWarner

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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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