Wells Fargo & Co upgraded shares of BorgWarner (NYSE:BWA) from a market perform rating to an outperform rating in a research note published on Wednesday, Marketbeat Ratings reports. The brokerage currently has $56.00 price objective on the auto parts company’s stock, down from their prior price objective of $57.00.
BWA has been the subject of several other reports. Cowen began coverage on BorgWarner in a report on Monday, April 16th. They set an outperform rating and a $60.00 price objective for the company. Citigroup reduced their price objective on BorgWarner from $60.00 to $59.00 and set a neutral rating for the company in a report on Tuesday, May 22nd. Morgan Stanley lowered BorgWarner to a buy rating and set a $57.00 price objective for the company. in a report on Friday, March 23rd. Zacks Investment Research raised BorgWarner from a hold rating to a buy rating and set a $56.00 price objective for the company in a report on Wednesday, March 28th. Finally, Goldman Sachs Group raised BorgWarner from a neutral rating to a buy rating and increased their price objective for the company from $56.00 to $58.00 in a report on Monday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. BorgWarner currently has a consensus rating of Buy and an average target price of $57.88.
Get BorgWarner alerts:Shares of NYSE BWA opened at $44.35 on Wednesday. BorgWarner has a 1-year low of $42.06 and a 1-year high of $58.22. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.28 and a beta of 1.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.52 and a quick ratio of 1.19.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, April 26th. The auto parts company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.07. BorgWarner had a return on equity of 22.15% and a net margin of 4.68%. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the company earned $0.91 earnings per share. BorgWarner’s revenue was up 15.7% compared to the same quarter last year. analysts anticipate that BorgWarner will post 4.39 earnings per share for the current year.
Several large investors have recently bought and sold shares of the business. Boston Partners lifted its position in shares of BorgWarner by 1.2% during the first quarter. Boston Partners now owns 11,648,949 shares of the auto parts company’s stock worth $585,127,000 after acquiring an additional 132,772 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of BorgWarner by 3.7% during the first quarter. Diamond Hill Capital Management Inc. now owns 8,138,617 shares of the auto parts company’s stock worth $408,803,000 after acquiring an additional 289,179 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of BorgWarner by 4.0% during the first quarter. JPMorgan Chase & Co. now owns 5,205,225 shares of the auto parts company’s stock worth $261,459,000 after acquiring an additional 198,540 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of BorgWarner by 0.6% during the first quarter. Victory Capital Management Inc. now owns 4,138,956 shares of the auto parts company’s stock worth $207,900,000 after acquiring an additional 26,054 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of BorgWarner by 7.7% during the first quarter. LSV Asset Management now owns 4,084,875 shares of the auto parts company’s stock worth $205,183,000 after acquiring an additional 290,788 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.
About BorgWarner
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
Further Reading: Price to Earnings Ratio (PE)
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