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

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

ALV has been the topic of several other reports. Robert W. Baird lowered their target price on Autoliv from $128.00 to $111.00 and set a neutral rating on the stock in a research note on Monday, July 22nd. Evercore ISI cut their price target on Autoliv from $150.00 to $140.00 and set an outperform rating for the company in a report on Monday, July 22nd. Hsbc Global Res upgraded Autoliv to a strong-buy rating in a research note on Monday, July 15th. HSBC started coverage on Autoliv in a research note on Monday, July 15th. They issued a buy rating and a $134.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a $116.00 price target on shares of Autoliv in a research report on Tuesday, September 10th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $124.71.

Autoliv Price Performance

Shares of NYSE ALV opened at $92.99 on Friday. The company has a market capitalization of $7.57 billion, a PE ratio of 14.51, a PEG ratio of 0.65 and a beta of 1.60. 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’s 50 day moving average price is $98.66 and its 200-day moving average price is $111.11. Autoliv has a twelve month low of $89.37 and a twelve month high of $129.38.

Autoliv (NYSE:ALV) last announced its earnings results on Friday, July 19th. The auto parts company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Autoliv had a net margin of 5.91% and a return on equity of 30.05%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 earnings per share. On average, equities analysts anticipate that Autoliv will post 9.05 EPS for the current year.

Autoliv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Wednesday, September 4th. Autoliv’s dividend payout ratio is presently 42.43%.

Hedge Funds Weigh In On Autoliv

A number of large investors have recently bought and sold shares of the stock. Avantax Advisory Services Inc. raised its position in Autoliv by 16.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,206 shares of the auto parts company’s stock valued at $353,000 after purchasing an additional 464 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Autoliv by 30.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,135 shares of the auto parts company’s stock valued at $1,227,000 after purchasing an additional 2,629 shares during the period. Quadrant Capital Group LLC raised its holdings in Autoliv by 38.6% in the 4th quarter. Quadrant Capital Group LLC now owns 922 shares of the auto parts company’s stock worth $102,000 after purchasing an additional 257 shares in the last quarter. Norges Bank purchased a new stake in shares of Autoliv in the 4th quarter worth about $91,065,000. Finally, Corient Private Wealth LLC raised its stake in Autoliv by 1.1% in the fourth quarter. Corient Private Wealth LLC now owns 9,490 shares of the auto parts company’s stock worth $1,046,000 after buying an additional 107 shares in the last quarter. 69.57% of the stock is owned by hedge funds and other institutional investors.

About Autoliv

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.