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

BorgWarner (NYSE:BWA) had its target price lowered by Wells Fargo & Company from $45.00 to $44.00 in a report issued on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the auto parts company’s stock.

Several other research analysts have also commented on the company. TD Cowen raised their price target on BorgWarner from $36.00 to $40.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Piper Sandler assumed coverage on BorgWarner in a research note on Friday, March 15th. They issued an overweight rating and a $43.00 price objective on the stock. Citigroup increased their price objective on BorgWarner from $33.00 to $41.00 and gave the company a neutral rating in a research note on Monday, May 6th. Oppenheimer increased their price objective on BorgWarner from $39.00 to $40.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Finally, Barclays raised their price target on BorgWarner from $44.00 to $45.00 and gave the company an overweight rating in a research note on Monday, May 6th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, BorgWarner currently has an average rating of Moderate Buy and a consensus price target of $43.71.

BorgWarner Price Performance

NYSE:BWA opened at $32.23 on Tuesday. BorgWarner has a one year low of $29.51 and a one year high of $50.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.54. The stock has a market cap of $7.34 billion, a PE ratio of 12.21, a P/E/G ratio of 0.79 and a beta of 1.28. The stock has a 50 day moving average price of $34.81 and a 200 day moving average price of $33.84.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.16. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. Equities research analysts expect that BorgWarner will post 4.05 EPS for the current fiscal year.

BorgWarner announced that its Board of Directors has authorized a share buyback plan on Thursday, May 2nd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

BorgWarner Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, June 3rd. BorgWarner’s dividend payout ratio is currently 16.67%.

Institutional Investors Weigh In On BorgWarner

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of BorgWarner during the 4th quarter worth approximately $75,489,000. Victory Capital Management Inc. boosted its stake in shares of BorgWarner by 10.9% during the 4th quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock worth $346,614,000 after acquiring an additional 948,659 shares in the last quarter. Ninety One UK Ltd raised its position in shares of BorgWarner by 85.1% during the 4th quarter. Ninety One UK Ltd now owns 1,656,221 shares of the auto parts company’s stock worth $59,376,000 after purchasing an additional 761,250 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of BorgWarner by 43.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,213,630 shares of the auto parts company’s stock worth $79,359,000 after purchasing an additional 670,720 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of BorgWarner by 18.3% during the 3rd quarter. American Century Companies Inc. now owns 4,189,541 shares of the auto parts company’s stock worth $169,132,000 after purchasing an additional 648,633 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

About BorgWarner

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.