BorgWarner (NYSE:BWA) Stock Rating Upgraded by Wall Street Zen

BorgWarner (NYSE:BWA) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday, Wall Street Zen reports.

Several other research analysts have also recently commented on BWA. JPMorgan Chase & Co. increased their price target on BorgWarner from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. TD Cowen dropped their price target on BorgWarner from $68.00 to $67.00 and set a “hold” rating for the company in a research note on Friday. Royal Bank Of Canada cut their target price on BorgWarner from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday. Morgan Stanley dropped their target price on shares of BorgWarner from $95.00 to $89.00 and set an “overweight” rating for the company in a report on Friday. Finally, UBS Group dropped their price objective on shares of BorgWarner from $95.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.00.

BorgWarner Stock Up 0.1%

Shares of NYSE:BWA opened at $51.70 on Friday. The company has a 50 day moving average of $60.99 and a 200-day moving average of $60.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.76. BorgWarner has a one year low of $40.73 and a one year high of $78.82. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 0.82 and a beta of 1.16.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 29th. The auto parts company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. BorgWarner had a return on equity of 19.10% and a net margin of 2.89%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that BorgWarner will post 5.27 earnings per share for the current year.

BorgWarner announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 5th that authorizes the company to buy back $1 billion in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 7.7% of its shares through open market purchases. Share repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at BorgWarner

In other BorgWarner news, CAO Amy Kulikowski sold 2,900 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $68.60, for a total value of $198,940.00. Following the sale, the chief accounting officer owned 9,725 shares of the company’s stock, valued at $667,135. This trade represents a 22.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Hanley sold 5,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $65.51, for a total transaction of $327,550.00. Following the completion of the transaction, the director owned 34,313 shares of the company’s stock, valued at $2,247,844.63. This trade represents a 12.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On BorgWarner

Several hedge funds have recently made changes to their positions in BWA. Kestra Advisory Services LLC boosted its holdings in shares of BorgWarner by 203.1% in the third quarter. Kestra Advisory Services LLC now owns 39,960 shares of the auto parts company’s stock valued at $2,402,000 after acquiring an additional 26,777 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of BorgWarner by 53.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 19,740 shares of the auto parts company’s stock valued at $1,085,000 after buying an additional 6,914 shares during the period. Richardson Financial Services Inc. increased its holdings in shares of BorgWarner by 39.6% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,737 shares of the auto parts company’s stock valued at $104,000 after purchasing an additional 493 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in 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 valued at $8,235,000 after purchasing an additional 538 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position 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 buying an additional 4,672 shares in the last quarter. 95.67% of the stock is currently 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.