Autoliv Inc. (ALV) Upgraded to “Hold” at Zacks Investment Research
Autoliv Inc. (NYSE:ALV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report 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.”
ALV has been the topic of several other research reports. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Autoliv in a research report on Tuesday, July 26th. Deutsche Bank AG cut their target price on Autoliv from $102.00 to $100.00 and set a “hold” rating on the stock in a research report on Monday, July 25th. Royal Bank Of Canada dropped their price target on Autoliv from $95.00 to $92.00 and set an “underperform” rating on the stock in a report on Monday, July 25th. Berenberg Bank started coverage on Autoliv in a report on Friday, June 17th. They set a “hold” rating and a $109.00 price target on the stock. Finally, Citigroup Inc. dropped 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. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Autoliv has an average rating of “Hold” and an average price target of C$101.39.
Autoliv (NYSE:ALV) traded down 0.64% during mid-day trading on Monday, hitting $106.12. The stock had a trading volume of 124,457 shares. The company’s 50 day moving average is $106.00 and its 200-day moving average is $112.98. The stock has a market capitalization of $9.36 billion, a P/E ratio of 16.56 and a beta of 1.29. Autoliv has a 52 week low of $95.34 and a 52 week high of $129.37.
Autoliv (NYSE:ALV) last announced its earnings results on Friday, July 22nd. The company reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Autoliv had a return on equity of 16.97% and a net margin of 5.83%. Autoliv’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. On average, analysts expect that Autoliv will post $6.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Wednesday, November 16th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, November 14th. Autoliv’s payout ratio is 36.19%.
Institutional investors have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its position in Autoliv by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,538,027 shares of the company’s stock valued at $165,261,000 after buying an additional 27,940 shares during the last quarter. Vanguard Group Inc. boosted its position in Autoliv by 2.6% in the second quarter. Vanguard Group Inc. now owns 1,289,681 shares of the company’s stock valued at $138,577,000 after buying an additional 32,557 shares during the last quarter. Edge Asset Management Inc. boosted its position in Autoliv by 2.8% in the second quarter. Edge Asset Management Inc. now owns 1,078,378 shares of the company’s stock valued at $115,872,000 after buying an additional 29,483 shares during the last quarter. State Street Corp boosted its position in Autoliv by 10.4% in the first quarter. State Street Corp now owns 864,427 shares of the company’s stock valued at $102,415,000 after buying an additional 81,460 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Autoliv by 34.7% in the second quarter. Ameriprise Financial Inc. now owns 802,236 shares of the company’s stock valued at $86,217,000 after buying an additional 206,460 shares during the last quarter. Institutional investors and hedge funds 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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