Autoliv Inc. (NYSE:ALV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Autoliv’s planned joint venture (JV) with Volvo should boost earnings in the long run. The company is under pressure due to stiff competition in passive safety products and customer concentration. Management also expects adjusted operating margins to decline in third-quarter and full-year 2016. However, Autoliv expects to record an improvement in both organic and consolidated sales in 2016. The company has a positive record of earnings surprises in recent quarters.”
Several other equities analysts have also recently weighed in on the company. RBC Capital Markets reissued an “underperform” rating and set a $92.00 price target (down from $95.00) on shares of Autoliv in a report on Monday, July 25th. Barclays PLC lowered their price target on Autoliv from $89.00 to $82.00 and set an “underweight” rating on the stock in a report on Monday, July 25th. Piper Jaffray Cos. assumed coverage on Autoliv in a report on Thursday, June 9th. They set a “neutral” rating and a $123.00 price target on the stock. Citigroup Inc. lowered their price target on Autoliv from $121.00 to $113.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Finally, Berenberg Bank assumed coverage on Autoliv in a report on Friday, June 17th. They set a “hold” rating and a $109.00 price target on the stock. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$101.39.
Autoliv (NYSE:ALV) traded down 0.64% during trading on Monday, reaching $106.12. The company had a trading volume of 124,457 shares. Autoliv has a one year low of $95.34 and a one year high of $129.37. The firm’s 50-day moving average price is $106.00 and its 200 day moving average price is $112.98. The firm has a market capitalization of $9.36 billion, a P/E ratio of 16.56 and a beta of 1.29.
Autoliv (NYSE:ALV) last issued its earnings results on Friday, July 22nd. The company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.71 by $0.04. Autoliv had a return on equity of 16.97% and a net margin of 5.83%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the business posted $1.62 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. Equities analysts forecast that Autoliv will post $6.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.58 per share. The ex-dividend date is Monday, November 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.17%. Autoliv’s payout ratio is 36.19%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Fiera Capital Corp purchased a new position in shares of Autoliv during the second quarter worth $44,173,000. PGGM Investments purchased a new position in shares of Autoliv during the second quarter worth $28,315,000. Ameriprise Financial Inc. raised its position in shares of Autoliv by 34.7% in the second quarter. Ameriprise Financial Inc. now owns 802,236 shares of the company’s stock worth $86,217,000 after buying an additional 206,460 shares during the last quarter. Pictet Asset Management Ltd. raised its position in shares of Autoliv by 28.5% in the second quarter. Pictet Asset Management Ltd. now owns 415,300 shares of the company’s stock worth $50,920,000 after buying an additional 92,100 shares during the last quarter. Finally, State Street Corp raised its position in shares of Autoliv by 10.4% in the first quarter. State Street Corp now owns 864,427 shares of the company’s stock worth $102,415,000 after buying an additional 81,460 shares during the last quarter. Hedge funds and other institutional investors own 33.07% of the company’s stock.
Autoliv, Inc is a developer, manufacturer and supplier to the automotive industry of automotive safety systems. The Company operates through two segments: Passive Safety and Electronics. Passive Safety segment includes airbags, seatbelts and steering wheels. Electronics segment includes active safety products, such as camera-based vision systems, night driving assist, automotive radars, brake controls and other active safety systems, and passive safety electronic products, such as restraint electronics and crash sensors.
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