Wells Fargo & Company Increases BorgWarner (NYSE:BWA) Price Target to $44.00

BorgWarner (NYSE:BWA) had its target price lifted by research analysts at Wells Fargo & Company from $40.00 to $44.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 33.93% from the stock’s current price.

BWA has been the topic of several other research reports. Piper Sandler dropped their price objective on BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. UBS Group lifted their price target on BorgWarner from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Guggenheim reduced their price target on BorgWarner from $38.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley reduced their price target on BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.67.

BorgWarner Trading Down 0.7%

BWA stock opened at $32.85 on Monday. The firm has a market cap of $7.22 billion, a P/E ratio of 23.31, a P/E/G ratio of 0.77 and a beta of 1.08. BorgWarner has a 1-year low of $24.40 and a 1-year high of $37.29. The business’s 50 day moving average is $28.48 and its 200-day moving average is $30.87. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last released its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. Equities analysts anticipate that BorgWarner will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In other BorgWarner news, CAO Tonit M. Calaway sold 8,300 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.07, for a total transaction of $249,581.00. Following the sale, the chief accounting officer now owns 242,257 shares of the company’s stock, valued at approximately $7,284,667.99. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tania Wingfield sold 24,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the sale, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. The trade was a 38.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,036 shares of company stock worth $1,851,114. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of BorgWarner

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp boosted its position in BorgWarner by 4.0% during the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock valued at $487,000 after acquiring an additional 595 shares during the last quarter. Norges Bank bought a new stake in BorgWarner during the fourth quarter valued at $62,180,000. State of Alaska Department of Revenue boosted its position in BorgWarner by 96.3% during the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company’s stock valued at $1,650,000 after acquiring an additional 25,475 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in BorgWarner during the fourth quarter valued at $1,197,000. Finally, AIA Group Ltd bought a new stake in BorgWarner during the fourth quarter valued at $1,599,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

BorgWarner Company Profile

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.