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

BorgWarner (NYSE:BWA) had its target price dropped by Wells Fargo & Company from $45.00 to $44.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 34.99% from the stock’s previous close.

Several other research firms have also issued reports on BWA. Piper Sandler started coverage on shares of BorgWarner in a research report on Friday, March 15th. They issued an “overweight” rating and a $43.00 price target on the stock. Oppenheimer raised their price target on shares of BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Robert W. Baird raised their price target on shares of BorgWarner from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Monday, May 6th. Finally, Citigroup raised their price target on shares of BorgWarner from $33.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BorgWarner presently has an average rating of “Moderate Buy” and a consensus price target of $43.71.

BorgWarner Trading Down 0.8 %

Shares of NYSE:BWA opened at $32.60 on Tuesday. The firm has a fifty day moving average of $34.83 and a two-hundred day moving average of $33.86. The firm has a market capitalization of $7.43 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 0.80 and a beta of 1.28. BorgWarner has a 12-month low of $29.51 and a 12-month high of $50.04. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.55.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. BorgWarner’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. On average, equities analysts expect that BorgWarner will post 4.05 EPS for the current fiscal year.

BorgWarner announced that its board has authorized a share buyback program on Thursday, May 2nd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the auto parts company to purchase up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On BorgWarner

A number of institutional investors and hedge funds have recently modified their holdings of BWA. Parkside Investments LLC increased its stake in BorgWarner by 28.7% in the fourth quarter. Parkside Investments LLC now owns 196,889 shares of the auto parts company’s stock valued at $7,058,000 after purchasing an additional 43,955 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in BorgWarner by 19.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 568,303 shares of the auto parts company’s stock valued at $20,373,000 after purchasing an additional 91,164 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in BorgWarner by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 699,974 shares of the auto parts company’s stock valued at $25,094,000 after purchasing an additional 59,925 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in BorgWarner in the third quarter valued at approximately $833,000. Finally, Sei Investments Co. increased its stake in BorgWarner by 13.2% in the fourth quarter. Sei Investments Co. now owns 1,850,749 shares of the auto parts company’s stock valued at $66,349,000 after purchasing an additional 216,373 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

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.