Piper Sandler Cuts BorgWarner (NYSE:BWA) Price Target to $36.00

BorgWarner (NYSE:BWA) had its price objective cut by Piper Sandler from $43.00 to $36.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

A number of other analysts also recently issued reports on BWA. JPMorgan Chase & Co. dropped their price target on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Evercore ISI dropped their price target on shares of BorgWarner from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Morgan Stanley dropped their price target on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company raised their price target on shares of BorgWarner from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, BNP Paribas raised shares of BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BorgWarner has a consensus rating of “Moderate Buy” and an average price target of $39.06.

BorgWarner Stock Performance

Shares of BWA stock opened at $28.68 on Thursday. BorgWarner has a 12 month low of $27.65 and a 12 month high of $38.23. The stock has a market cap of $6.30 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 0.77 and a beta of 1.21. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average price is $30.36 and its 200-day moving average price is $32.54.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. On average, equities analysts expect that BorgWarner will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.11 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.53%. BorgWarner’s dividend payout ratio is currently 30.77%.

Insider Activity at BorgWarner

In other news, CAO Tonit M. Calaway sold 13,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $30.16, for a total transaction of $407,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 259,310 shares of the company’s stock, valued at $7,820,789.60. This represents a 4.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tania Wingfield sold 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the transaction, the executive vice president now directly owns 39,110 shares of the company’s stock, valued at approximately $1,125,976.90. The trade was a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,800 shares of company stock worth $1,347,701 over the last quarter. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC grew its holdings in BorgWarner by 1,515.0% in the 4th quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock valued at $31,000 after buying an additional 909 shares in the last quarter. Brooklyn Investment Group purchased a new stake in BorgWarner in the 3rd quarter valued at $32,000. True Wealth Design LLC purchased a new stake in BorgWarner in the 3rd quarter valued at $38,000. Resona Asset Management Co. Ltd. purchased a new stake in BorgWarner in the 4th quarter valued at $45,000. Finally, Avior Wealth Management LLC grew its holdings in BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock valued at $46,000 after buying an additional 342 shares in the last quarter. 95.67% of the stock is 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.