Autoliv, Inc. (ALV) Upgraded at Zacks Investment Research
Autoliv, Inc. (NYSE:ALV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $140.00 target price on the auto parts company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.13% from the company’s current price.
According to Zacks, “Autoliv’s third-quarter 2017 earnings per share and revenues came in higher than both the Zacks Consensus Estimates. Revenues improved year over year but earnings declined year over year. In September, Autoliv inked a deal to acquire certain assets of a Swedish based LiDAR specialist company. Also, innovative product launches, acquisitions and JVs are likely to boost its sales. Moreover, Autoliv has been witnessing a strong order intake. However, low organic sales growth expectation and stiff competition in passive safety products is a concern before it. Year to date, Autoliv has underperformed the industry it belongs to.”
A number of other equities analysts have also recently commented on the stock. Pareto Securities raised shares of Autoliv from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Jefferies Group LLC set a $145.00 price target on shares of Autoliv and gave the stock a “buy” rating in a research note on Thursday, October 26th. Piper Jaffray Companies set a $99.00 price target on shares of Autoliv and gave the stock a “hold” rating in a research note on Monday, October 16th. ValuEngine cut shares of Autoliv from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Cowen and Company began coverage on shares of Autoliv in a research note on Monday, September 25th. They set a “market perform” rating and a $120.00 price target for the company. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $113.45.
Autoliv (NYSE:ALV) traded up 0.75% during trading on Wednesday, reaching $125.80. The company’s stock had a trading volume of 130,157 shares. The stock’s 50 day moving average is $124.04 and its 200 day moving average is $112.22. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 19.87 and a beta of 1.14. Autoliv has a 12 month low of $93.31 and a 12 month high of $127.75.
Autoliv (NYSE:ALV) last released its quarterly earnings results on Thursday, October 26th. The auto parts company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.14. Autoliv had a net margin of 4.96% and a return on equity of 13.42%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the company earned $1.63 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Autoliv will post $6.26 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in ALV. Vanguard Group Inc. lifted its position in shares of Autoliv by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 1,376,135 shares of the auto parts company’s stock worth $140,724,000 after purchasing an additional 52,894 shares during the period. Morgan Stanley lifted its position in shares of Autoliv by 12.0% in the 1st quarter. Morgan Stanley now owns 52,448 shares of the auto parts company’s stock worth $5,364,000 after purchasing an additional 5,638 shares during the period. BlackRock Inc. lifted its position in shares of Autoliv by 2,592.0% in the 1st quarter. BlackRock Inc. now owns 2,714,469 shares of the auto parts company’s stock worth $277,583,000 after purchasing an additional 2,613,635 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Autoliv by 9.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 156,829 shares of the auto parts company’s stock worth $16,038,000 after purchasing an additional 13,954 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Autoliv in the 1st quarter worth approximately $352,000. 32.59% of the stock is owned by hedge funds and other institutional investors.
Autoliv, Inc is a supplier of automotive safety systems with a range of product offerings, including passive safety systems and active safety systems. The Company operates through two segments: Passive Safety and Electronics. The Passive safety products include modules and components for passenger and driver-side airbags, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, whiplash protection systems and child seats, and components for such systems, as well as passive safety electronic products, such as restraint electronics and crash sensors.
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