Autoliv (NYSE:ALV) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Autoliv's stock reached a new 52-week high of $126.96 during trading, indicating strong market interest and potential for growth.
• Several analysts have updated their price targets for Autoliv, with targets ranging from $104.00 to $135.00, reflecting a generally positive outlook on the company's performance.
• The company announced a significant $2.50 billion stock buyback program as part of their strategy to enhance shareholder value, suggesting confidence in their stock valuation.

Autoliv, Inc. (NYSE:ALV - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $106.00 to $126.00. Wells Fargo & Company currently has an equal weight rating on the stock. Autoliv traded as high as $126.96 and last traded at $126.83, with a volume of 424741 shares traded. The stock had previously closed at $124.69.

Several other equities analysts have also weighed in on the stock. UBS Group increased their price objective on shares of Autoliv from $103.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Jefferies Financial Group initiated coverage on shares of Autoliv in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 price objective on the stock. Barclays reissued an "overweight" rating and issued a $135.00 price objective (up from $105.00) on shares of Autoliv in a research report on Wednesday, July 16th. Mizuho increased their price objective on shares of Autoliv from $95.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of Autoliv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Autoliv presently has a consensus rating of "Moderate Buy" and an average price target of $122.92.

Hedge Funds Weigh In On Autoliv

A number of hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC increased its position in Autoliv by 3.6% during the second quarter. ProShare Advisors LLC now owns 3,152 shares of the auto parts company's stock worth $353,000 after acquiring an additional 109 shares during the period. Deutsche Bank AG increased its position in Autoliv by 2.3% during the fourth quarter. Deutsche Bank AG now owns 5,886 shares of the auto parts company's stock worth $552,000 after acquiring an additional 135 shares during the period. Quantinno Capital Management LP increased its position in Autoliv by 0.6% during the fourth quarter. Quantinno Capital Management LP now owns 23,592 shares of the auto parts company's stock worth $2,213,000 after acquiring an additional 136 shares during the period. Captrust Financial Advisors increased its position in Autoliv by 6.8% during the fourth quarter. Captrust Financial Advisors now owns 2,433 shares of the auto parts company's stock worth $228,000 after acquiring an additional 155 shares during the period. Finally, Fortem Financial Group LLC increased its position in Autoliv by 2.3% during the first quarter. Fortem Financial Group LLC now owns 6,909 shares of the auto parts company's stock worth $611,000 after acquiring an additional 156 shares during the period. 69.57% of the stock is owned by institutional investors.

Autoliv Trading Down 1.2%

The firm has a market capitalization of $9.69 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.70. The business's 50-day moving average is $118.60 and its 200 day moving average is $104.62.

Autoliv (NYSE:ALV - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The auto parts company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.07 by $0.14. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.57 billion. Autoliv had a net margin of 6.83% and a return on equity of 30.73%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 earnings per share. As a group, analysts anticipate that Autoliv, Inc. will post 9.51 EPS for the current fiscal year.

Autoliv announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 4th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the auto parts company to purchase up to 31.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

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.