Zacks Investment Research upgraded shares of BorgWarner (NYSE:BWA) from a hold rating to a buy rating in a report released on Thursday. Zacks Investment Research currently has $61.00 price target on the auto parts company’s stock.

According to Zacks, “The Zacks Consensus Estimate for BorgWarner’s annual earnings has been going up of late. The company is poised to benefit from its expansion in Asia that will positively impact its sales figure. Also, a strong balance sheet and ample cash flow helps the company to return capital to its shareholders and undertake new acquisitions. Moreover, it has provided a positive guidance for the fiscal 2017. Also, in the last three months, BorgWarner’s shares have outperformed the industry it belongs to.”

Other research analysts also recently issued research reports about the stock. Buckingham Research raised their target price on shares of BorgWarner from $37.00 to $45.00 and gave the company a neutral rating in a research report on Thursday, October 19th. BMO Capital Markets raised their target price on shares of BorgWarner from $60.00 to $65.00 and gave the company an outperform rating in a research report on Monday, October 30th. Oppenheimer assumed coverage on shares of BorgWarner in a research report on Thursday, December 7th. They set an outperform rating and a $63.00 target price on the stock. UBS Group raised their target price on shares of BorgWarner from $57.00 to $60.00 and gave the company a buy rating in a research report on Thursday, October 19th. Finally, KeyCorp raised their target price on shares of BorgWarner from $50.00 to $56.00 and gave the company a buy rating in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $51.88.

Shares of BorgWarner (NYSE:BWA) traded up $1.32 on Thursday, reaching $57.23. 2,346,900 shares of the company were exchanged, compared to its average volume of 1,590,389. BorgWarner has a one year low of $37.54 and a one year high of $57.89. The company has a market cap of $12,066.29, a price-to-earnings ratio of 41.47, a price-to-earnings-growth ratio of 1.62 and a beta of 1.77. The company has a quick ratio of 1.10, a current ratio of 1.43 and a debt-to-equity ratio of 0.53.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.07. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $0.78 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. equities analysts predict that BorgWarner will post 3.83 EPS for the current year.

In other news, EVP John J. Gasparovic sold 38,409 shares of BorgWarner stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $52.60, for a total value of $2,020,313.40. Following the transaction, the executive vice president now owns 63,937 shares of the company’s stock, valued at approximately $3,363,086.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joel Wiegert sold 1,400 shares of BorgWarner stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $52.35, for a total transaction of $73,290.00. Following the completion of the transaction, the vice president now directly owns 16,197 shares in the company, valued at approximately $847,912.95. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the company. MML Investors Services LLC grew its position in BorgWarner by 1.2% during the 2nd quarter. MML Investors Services LLC now owns 7,407 shares of the auto parts company’s stock worth $314,000 after purchasing an additional 91 shares during the last quarter. Sentry Investment Management LLC grew its position in BorgWarner by 0.9% during the 2nd quarter. Sentry Investment Management LLC now owns 13,520 shares of the auto parts company’s stock worth $573,000 after purchasing an additional 120 shares during the last quarter. Westover Capital Advisors LLC grew its position in BorgWarner by 1.6% during the 2nd quarter. Westover Capital Advisors LLC now owns 12,496 shares of the auto parts company’s stock worth $529,000 after purchasing an additional 200 shares during the last quarter. Raymond James Trust N.A. grew its position in BorgWarner by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 11,536 shares of the auto parts company’s stock worth $489,000 after purchasing an additional 279 shares during the last quarter. Finally, Scotia Capital Inc. grew its position in BorgWarner by 2.6% during the 2nd quarter. Scotia Capital Inc. now owns 12,973 shares of the auto parts company’s stock worth $550,000 after purchasing an additional 328 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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About BorgWarner

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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