Autoliv (NYSE:ALV) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Autoliv has been upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating, reflecting positive sentiment for the company.
• Analyst price targets for Autoliv have varied, with Mizuho raising their target to $112 and Jefferies setting a target price of $140.
• The company announced a stock repurchase plan allowing it to buy back $2.50 billion of its outstanding shares, signaling confidence in its valuation and future prospects.

Wall Street Zen upgraded shares of Autoliv (NYSE:ALV - Free Report) from a buy rating to a strong-buy rating in a report released on Saturday morning.

A number of other equities research analysts have also recently weighed in on ALV. Mizuho lifted their price objective on shares of Autoliv from $95.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. BNP Paribas Exane raised Autoliv from a "neutral" rating to an "outperform" rating and set a $123.00 price objective for the company in a research note on Friday, May 9th. Barclays boosted their price target on Autoliv from $105.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Robert W. Baird cut their price objective on Autoliv from $126.00 to $124.00 and set a "neutral" rating on the stock in a research note on Monday, July 21st. Finally, Royal Bank Of Canada started coverage on Autoliv in a report on Wednesday, June 25th. They set an "outperform" rating and a $133.00 price target for the company. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Autoliv has an average rating of "Moderate Buy" and an average target price of $120.64.

Autoliv Trading Up 1.2%

Shares of ALV stock traded up $1.39 during trading hours on Friday, hitting $117.24. 610,593 shares of the company were exchanged, compared to its average volume of 838,364. The firm has a market cap of $9.01 billion, a PE ratio of 12.83, a PEG ratio of 1.21 and a beta of 1.37. Autoliv has a 1 year low of $75.49 and a 1 year high of $118.98. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $110.24 and a 200 day moving average of $99.06.

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

Autoliv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, September 5th. This is an increase from Autoliv's previous quarterly dividend of $0.70. Autoliv's dividend payout ratio is currently 30.63%.

Autoliv announced that its board has approved a share buyback program on Wednesday, June 4th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the auto parts company to reacquire up to 31.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Autoliv

In other news, Director Jan Carlson sold 1,555 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $108.32, for a total transaction of $168,437.60. Following the sale, the director owned 77,493 shares of the company's stock, valued at $8,394,041.76. This trade represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autoliv

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SouthState Corp bought a new position in Autoliv in the first quarter valued at approximately $25,000. GAMMA Investing LLC grew its holdings in shares of Autoliv by 122.9% during the 1st quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock worth $33,000 after purchasing an additional 204 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Autoliv during the 1st quarter worth $44,000. Physician Wealth Advisors Inc. acquired a new stake in Autoliv in the fourth quarter valued at about $57,000. Finally, Signaturefd LLC boosted its stake in Autoliv by 63.4% in the first quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock valued at $60,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 69.57% of the company's stock.

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.