BorgWarner (NYSE:BWA) Given New $44.00 Price Target at Wells Fargo & Company

BorgWarner (NYSE:BWA) had its price target reduced by Wells Fargo & Company from $45.00 to $44.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

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

BorgWarner Stock Down 1.8 %

Shares of NYSE:BWA opened at $32.00 on Tuesday. BorgWarner has a one year low of $29.51 and a one year high of $50.04. The company has a 50 day moving average of $34.82 and a 200-day moving average of $33.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.20. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.80 and a beta of 1.28.

BorgWarner (NYSE:BWA) last released 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. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the firm earned $1.09 EPS. BorgWarner’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that BorgWarner will post 4.05 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, June 3rd. BorgWarner’s dividend payout ratio is presently 16.67%.

BorgWarner announced that its Board of Directors has approved a share buyback program 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 programs are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On BorgWarner

Institutional investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in BorgWarner during the fourth quarter worth $30,000. Riverview Trust Co acquired a new position in BorgWarner during the first quarter worth $30,000. Sound Income Strategies LLC acquired a new position in BorgWarner during the fourth quarter worth $32,000. LRI Investments LLC acquired a new position in BorgWarner during the first quarter worth $35,000. Finally, Bruce G. Allen Investments LLC acquired a new position in BorgWarner during the fourth quarter worth $33,000. 95.67% of the stock is currently 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.