BorgWarner (NYSE:BWA) Price Target Raised to $39.00

BorgWarner (NYSE:BWA) had its price objective hoisted by Robert W. Baird from $38.00 to $39.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

Several other equities research analysts have also issued reports on the stock. Oppenheimer lifted their price objective on shares of BorgWarner from $39.00 to $40.00 and gave the company an outperform rating in a research note on Friday, May 3rd. TD Cowen upped their price target on BorgWarner from $36.00 to $40.00 and gave the stock a buy rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. cut their price objective on BorgWarner from $52.00 to $50.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Barclays upped their target price on BorgWarner from $44.00 to $45.00 and gave the stock an overweight rating in a research report on Monday, May 6th. Finally, Citigroup dropped their price target on shares of BorgWarner from $41.00 to $36.00 and set a neutral rating on the stock in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $41.35.

BorgWarner Price Performance

BWA opened at $33.04 on Thursday. BorgWarner has a 1 year low of $29.51 and a 1 year high of $42.78. The stock has a fifty day moving average price of $33.34 and a 200 day moving average price of $33.47. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.18. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 EPS. Analysts forecast that BorgWarner will post 4.06 EPS for the current fiscal year.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 1.33%. BorgWarner’s dividend payout ratio is 16.67%.

BorgWarner announced that its board has initiated a share repurchase plan on Thursday, May 2nd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the auto parts company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in BorgWarner during the fourth quarter worth about $30,000. Riverview Trust Co bought a new position in shares of BorgWarner during the 1st quarter worth approximately $30,000. LRI Investments LLC acquired a new stake in BorgWarner in the 1st quarter valued at $35,000. Olistico Wealth LLC bought a new stake in BorgWarner in the second quarter valued at $35,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in BorgWarner by 12,144.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock worth $38,000 after acquiring an additional 1,093 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.