Autoliv (ALV) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Autoliv (NYSE:ALV) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $102.00 price target on the auto parts company’s stock.
According to Zacks, “The Zacks Consensus Estimate for Autoliv’s 2018 earnings has been going up. New product launches and improving demand for light vehicles will enable the company to achieve its sales target of more than $10 billion and approximately 13% adjusted operating margin by 2020. Moreover, strong sales growth in China, India, ASEAN and South America will help Autoliv drive its financials. Further, the company actively pursues capital deployment strategies to enhance shareholder confidence. It also follows acquisitions and joint ventures to expand its business and widen its product offering. However, new tariffs and rise in commodity prices might hurt Autoliv’s profit margin. Also, in the last six months, shares of the company have underperformed the industry it belongs to.”
A number of other research firms also recently weighed in on ALV. Longbow Research set a $168.00 price target on shares of Autoliv and gave the company a buy rating in a research report on Monday, April 30th. Royal Bank of Canada dropped their price target on shares of Autoliv to $127.00 and set a sector perform rating for the company in a research report on Monday, April 30th. Citigroup dropped their price target on shares of Autoliv to $154.00 and set a neutral rating for the company in a research report on Tuesday, May 8th. Daiwa Capital Markets upgraded shares of Autoliv from a neutral rating to an outperform rating and set a $118.00 price target for the company in a research report on Monday, July 16th. Finally, Barclays dropped their price target on shares of Autoliv from $106.00 to $82.00 and set an underweight rating for the company in a research report on Thursday, July 5th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $121.55.
Autoliv (NYSE:ALV) last released its quarterly earnings results on Friday, July 27th. The auto parts company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.34. Autoliv had a net margin of 3.09% and a return on equity of 17.38%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. sell-side analysts anticipate that Autoliv will post 7.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Wednesday, November 21st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.48 dividend on an annualized basis and a yield of 2.73%. Autoliv’s dividend payout ratio (DPR) is 37.69%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Legacy Advisors LLC bought a new stake in shares of Autoliv during the second quarter worth $176,000. Engineers Gate Manager LP bought a new stake in shares of Autoliv during the second quarter worth $201,000. GSA Capital Partners LLP bought a new stake in shares of Autoliv during the second quarter worth $204,000. Parametrica Management Ltd bought a new stake in shares of Autoliv during the first quarter worth $223,000. Finally, Wsfs Capital Management LLC bought a new stake in shares of Autoliv during the first quarter worth $229,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.
Autoliv Company Profile
Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry worldwide. The company operates through two segments, Passive Safety and Electronics. It offers modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, battery cable cutters, pedestrian protection systems, and child seats.
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