Autoliv (NYSE:ALV) Hits New 1-Year High - Here's Why

Autoliv, Inc. (NYSE:ALV - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $112.09 and last traded at $111.58, with a volume of 116142 shares trading hands. The stock had previously closed at $110.44.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group raised their target price 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. Wall Street Zen upgraded shares of Autoliv from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on shares of Autoliv from $82.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Royal Bank Of Canada initiated coverage on shares of Autoliv in a research note on Wednesday. They issued an "outperform" rating and a $133.00 price objective on the stock. Finally, BNP Paribas raised shares of Autoliv from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Autoliv has an average rating of "Moderate Buy" and an average price target of $115.27.

Autoliv Stock Down 1.0%

The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a market cap of $8.57 billion, a P/E ratio of 12.75, a PEG ratio of 1.90 and a beta of 1.36. The stock's 50-day simple moving average is $100.67 and its 200 day simple moving average is $95.84.

Autoliv (NYSE:ALV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The auto parts company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.43. The business had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.50 billion. Autoliv had a net margin of 6.63% and a return on equity of 30.47%. During the same quarter in the prior year, the firm posted $1.58 earnings per share. As a group, research analysts forecast that Autoliv, Inc. will post 9.51 EPS for the current fiscal year.

Autoliv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Friday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 3.07%. This is a boost from Autoliv's previous quarterly dividend of $0.70. Autoliv's dividend payout ratio is 32.22%.

Autoliv announced that its Board of Directors has approved a share buyback plan 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 buy up to 31.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Insider Activity

In other news, Director Jan Carlson sold 1,555 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $108.32, for a total transaction of $168,437.60. Following the transaction, the director now owns 77,493 shares in the company, valued at approximately $8,394,041.76. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On Autoliv

Institutional investors have recently made changes to their positions in the stock. SouthState Corp acquired a new position in shares of Autoliv during the first quarter valued at about $25,000. AlphaQuest LLC raised its holdings in shares of Autoliv by 74.4% during the fourth quarter. AlphaQuest LLC now owns 314 shares of the auto parts company's stock valued at $29,000 after purchasing an additional 134 shares during the period. GAMMA Investing LLC raised its holdings in shares of Autoliv by 122.9% during the first quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock valued at $33,000 after purchasing an additional 204 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Autoliv in the 1st quarter worth about $44,000. Finally, Twin Tree Management LP acquired a new stake in shares of Autoliv in the 4th quarter worth about $50,000. 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.