BorgWarner Inc. (BWA) PT Raised to $60.00
BorgWarner Inc. (NYSE:BWA) had its price target increased by equities research analysts at UBS AG from $57.00 to $60.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the auto parts company’s stock. UBS AG’s price objective suggests a potential upside of 14.94% from the stock’s current price.
Several other research firms have also recently weighed in on BWA. Jefferies Group LLC restated a “buy” rating and issued a $56.00 price objective on shares of BorgWarner in a research report on Tuesday, August 29th. KeyCorp upped their price objective on shares of BorgWarner from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. ValuEngine cut shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of BorgWarner from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $55.00 price target (up from $50.00) on shares of BorgWarner in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $46.76.
Shares of BorgWarner (NYSE BWA) opened at 52.20 on Thursday. The company’s 50 day moving average is $50.00 and its 200 day moving average is $44.68. BorgWarner has a one year low of $33.09 and a one year high of $52.77. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 58.19 and a beta of 1.76.
BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.07. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. BorgWarner’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 earnings per share. Equities research analysts predict that BorgWarner will post $3.71 earnings per share for the current year.
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In other news, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, the insider now owns 23,418 shares in the company, valued at $1,062,708.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the completion of the transaction, the executive vice president now owns 34,120 shares in the company, valued at approximately $1,535,058.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of BWA. CENTRAL TRUST Co grew its holdings in shares of BorgWarner by 5.3% in the second quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock worth $114,000 after purchasing an additional 135 shares during the last quarter. Exane Derivatives purchased a new stake in BorgWarner in the second quarter worth $135,000. Global X Management Co. LLC lifted its stake in BorgWarner by 29.9% in the first quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock worth $154,000 after acquiring an additional 851 shares during the period. Pacer Advisors Inc. lifted its stake in BorgWarner by 8.3% in the second quarter. Pacer Advisors Inc. now owns 4,433 shares of the auto parts company’s stock worth $188,000 after acquiring an additional 341 shares during the period. Finally, Cleararc Capital Inc. purchased a new stake in BorgWarner in the first quarter worth $205,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.
BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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