Wells Fargo & Company Cuts Autoliv (NYSE:ALV) Price Target to $102.00

Autoliv (NYSE:ALV) had its target price decreased by Wells Fargo & Company from $103.00 to $102.00 in a research report report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

ALV has been the topic of several other reports. HSBC assumed coverage on Autoliv in a report on Monday, July 15th. They issued a buy rating and a $134.00 price objective on the stock. Hsbc Global Res raised shares of Autoliv to a strong-buy rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $116.00 price target on shares of Autoliv in a research report on Tuesday, September 10th. Citigroup cut their target price on Autoliv from $119.00 to $108.00 and set a neutral rating on the stock in a research report on Monday, July 22nd. Finally, Robert W. Baird cut their target price on Autoliv from $128.00 to $111.00 and set a neutral rating on the stock in a research report on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $124.71.

Autoliv Price Performance

NYSE:ALV opened at $92.85 on Friday. Autoliv has a 52 week low of $89.37 and a 52 week high of $129.38. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $7.56 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60. The stock’s 50-day moving average price is $98.98 and its 200-day moving average price is $111.29.

Autoliv (NYSE:ALV) last posted its earnings results on Friday, July 19th. The auto parts company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Autoliv had a net margin of 5.91% and a return on equity of 30.05%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the business earned $1.93 earnings per share. Autoliv’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts expect that Autoliv will post 9.05 EPS for the current fiscal year.

Autoliv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Wednesday, September 4th will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, September 4th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.93%. Autoliv’s payout ratio is currently 42.43%.

Hedge Funds Weigh In On Autoliv

A number of institutional investors and hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Autoliv in the second quarter valued at $963,000. Sanctuary Advisors LLC acquired a new position in Autoliv in the second quarter valued at $402,000. Dana Investment Advisors Inc. boosted its stake in Autoliv by 6.2% in the second quarter. Dana Investment Advisors Inc. now owns 73,481 shares of the auto parts company’s stock valued at $7,862,000 after acquiring an additional 4,319 shares in the last quarter. Truist Financial Corp boosted its stake in Autoliv by 13.8% in the second quarter. Truist Financial Corp now owns 3,133 shares of the auto parts company’s stock valued at $335,000 after acquiring an additional 380 shares in the last quarter. Finally, Quarry LP boosted its stake in Autoliv by 133.5% in the second quarter. Quarry LP now owns 362 shares of the auto parts company’s stock valued at $39,000 after acquiring an additional 207 shares in the last quarter. Institutional investors and hedge funds own 69.57% of the company’s stock.

Autoliv Company Profile

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies passive safety systems to the automotive industry in Europe, the Americas, China, Japan, and rest of Asia. It offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and inflator technologies.