Wells Fargo & Company Lowers BorgWarner (NYSE:BWA) Price Target to $42.00

BorgWarner (NYSE:BWA) had its price objective decreased by Wells Fargo & Company from $44.00 to $42.00 in a report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the auto parts company’s stock.

Other equities research analysts also recently issued reports about the stock. Barclays boosted their price target on shares of BorgWarner from $44.00 to $45.00 and gave the company an overweight rating in a research note on Monday, May 6th. Robert W. Baird upped their price target on BorgWarner from $38.00 to $39.00 and gave the stock a neutral rating in a research note on Thursday. Bank of America dropped their price objective on BorgWarner from $50.00 to $45.00 and set a buy rating for the company in a research note on Monday, July 22nd. StockNews.com lowered BorgWarner from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Finally, Citigroup dropped their target price on BorgWarner from $41.00 to $36.00 and set a neutral rating for the company in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $41.35.

BorgWarner Trading Down 2.9 %

BWA opened at $33.04 on Thursday. The business’s 50 day moving average price is $33.34 and its 200 day moving average price is $33.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 1.62. The stock has a market capitalization of $7.53 billion, a PE ratio of 12.52, a P/E/G ratio of 0.78 and a beta of 1.22. BorgWarner has a one year low of $29.51 and a one year high of $42.78.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.01 by $0.18. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.35 EPS. As a group, equities research analysts expect that BorgWarner will post 4.06 EPS for the current year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

BorgWarner declared that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the auto parts company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On BorgWarner

Several hedge funds have recently added to or reduced their stakes in BWA. Trillium Asset Management LLC increased its position in shares of BorgWarner by 2.1% during the first quarter. Trillium Asset Management LLC now owns 13,788 shares of the auto parts company’s stock worth $479,000 after purchasing an additional 283 shares in the last quarter. Empirical Finance LLC grew its stake in BorgWarner by 3.5% during the 1st quarter. Empirical Finance LLC now owns 8,456 shares of the auto parts company’s stock worth $294,000 after buying an additional 285 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in BorgWarner by 1.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,200 shares of the auto parts company’s stock worth $667,000 after buying an additional 335 shares during the period. First Pacific Financial lifted its stake in BorgWarner by 3.6% in the second quarter. First Pacific Financial now owns 9,763 shares of the auto parts company’s stock valued at $315,000 after buying an additional 340 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in BorgWarner by 3.8% in the first quarter. Verdence Capital Advisors LLC now owns 9,459 shares of the auto parts company’s stock valued at $329,000 after buying an additional 343 shares during the last quarter. 95.67% of the stock is currently owned by hedge funds and other 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.