BorgWarner (NYSE:BWA) Stock Gets Price Target Trim from Barclays

BorgWarner (NYSE:BWA) had its target price decreased by investment analysts at Barclays from $85.00 to $80.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. Barclays‘s price target indicates a potential upside of 54.51% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Royal Bank Of Canada dropped their price objective on BorgWarner from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley cut their price objective on shares of BorgWarner from $95.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen reduced their price target on BorgWarner from $68.00 to $67.00 and set a “hold” rating for the company in a research report on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of BorgWarner in a report on Friday, September 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BorgWarner from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.00.

BorgWarner Price Performance

Shares of BWA stock traded up $0.14 during trading hours on Monday, hitting $51.77. The company had a trading volume of 1,450,798 shares, compared to its average volume of 2,755,777. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.75 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.41. The firm’s fifty day moving average is $61.31 and its 200 day moving average is $60.54. BorgWarner has a 12 month low of $40.73 and a 12 month high of $78.82.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 29th. The auto parts company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.14. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a net margin of 3.36% and a return on equity of 19.61%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. On average, sell-side analysts predict that BorgWarner will post 5.27 EPS for the current fiscal year.

BorgWarner declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that permits the company to repurchase $1 billion in outstanding shares. This repurchase authorization permits the auto parts company to buy up to 7.7% of its stock through open market purchases. Share repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Michael S. Hanley sold 5,000 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $65.51, for a total transaction of $327,550.00. Following the transaction, the director owned 34,313 shares in the company, valued at approximately $2,247,844.63. This represents a 12.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rajesh Kalathur acquired 7,407 shares of BorgWarner stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average price of $67.59 per share, with a total value of $500,639.13. Following the completion of the acquisition, the director directly owned 7,407 shares of the company’s stock, valued at approximately $500,639.13. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BorgWarner

Institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC increased its position in shares of BorgWarner by 53.9% in the third quarter. Chicago Partners Investment Group LLC now owns 19,740 shares of the auto parts company’s stock worth $1,085,000 after purchasing an additional 6,914 shares during the last quarter. Richardson Financial Services Inc. raised its stake in shares of BorgWarner by 39.6% in the third quarter. Richardson Financial Services Inc. now owns 1,737 shares of the auto parts company’s stock worth $104,000 after purchasing an additional 493 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of BorgWarner by 0.4% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 137,002 shares of the auto parts company’s stock worth $8,235,000 after buying an additional 538 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of BorgWarner by 16.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 33,878 shares of the auto parts company’s stock worth $2,036,000 after purchasing an additional 4,672 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of BorgWarner during the 3rd quarter valued at approximately $105,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

About BorgWarner

BorgWarner Inc (NYSE:BWA) is a global automotive technology company that develops and manufactures propulsion and mobility systems for vehicle manufacturers and commercial vehicle customers. The company serves both internal-combustion and electrified vehicle markets, with a portfolio focused on improving vehicle efficiency, performance, emissions, and electrification.

Its products and technologies include turbochargers, emissions and thermal-management systems, transmission components, friction products, battery systems, battery charging equipment, power electronics, electric motors, and other electric-drive components.