Autoliv (NYSE:ALV) Hits New 12-Month High on Analyst Upgrade

Autoliv, Inc. (NYSE:ALV - Get Free Report)'s share price hit a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $100.00 to $104.00. Wells Fargo & Company currently has an equal weight rating on the stock. Autoliv traded as high as $115.25 and last traded at $114.42, with a volume of 288357 shares trading hands. The stock had previously closed at $111.90.

Other research analysts have also issued research reports about the stock. BNP Paribas upgraded shares of Autoliv from a "hold" rating to a "strong-buy" rating in a report on Friday, May 9th. Wall Street Zen raised shares of Autoliv from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Cowen began coverage on shares of Autoliv in a report on Thursday, March 6th. They issued a "buy" rating on the stock. Mizuho lifted their target price on shares of Autoliv from $95.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, TD Cowen began coverage on shares of Autoliv in a research report on Friday, March 7th. They set a "buy" rating and a $116.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Autoliv presently has an average rating of "Moderate Buy" and an average target price of $117.06.

Insider Activity

In related news, Director Jan Carlson sold 1,555 shares of the stock in a transaction on 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 directly 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 filing with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autoliv

Several hedge funds and other institutional investors have recently bought and sold shares of ALV. FMR LLC grew its stake in shares of Autoliv by 9.9% in the fourth quarter. FMR LLC now owns 7,146,500 shares of the auto parts company's stock worth $670,270,000 after acquiring an additional 641,895 shares during the period. Charles Schwab Investment Management Inc. grew its position in Autoliv by 418.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,483,726 shares of the auto parts company's stock worth $219,686,000 after purchasing an additional 2,004,515 shares during the period. FIL Ltd raised its stake in Autoliv by 17.3% during the 4th quarter. FIL Ltd now owns 2,382,265 shares of the auto parts company's stock valued at $223,433,000 after buying an additional 351,876 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Autoliv by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,857,069 shares of the auto parts company's stock valued at $164,257,000 after buying an additional 233,469 shares during the period. Finally, Mondrian Investment Partners LTD lifted its holdings in shares of Autoliv by 4.5% during the 4th quarter. Mondrian Investment Partners LTD now owns 1,378,636 shares of the auto parts company's stock valued at $133,259,000 after buying an additional 59,592 shares during the period. Institutional investors own 69.57% of the company's stock.

Autoliv Trading Up 3.1%

The company has a current ratio of 0.97, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $9.13 billion, a PE ratio of 13.59, a P/E/G ratio of 1.91 and a beta of 1.37. The stock has a 50 day moving average price of $102.75 and a 200-day moving average price of $96.22.

Autoliv (NYSE:ALV - Get Free Report) last announced its earnings results on Wednesday, April 16th. The auto parts company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 30.47% and a net margin of 6.63%. During the same period last year, the firm posted $1.58 earnings per share. Sell-side analysts expect that Autoliv, Inc. will post 9.51 earnings per share for the current year.

Autoliv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.88%. This is a positive change from Autoliv's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, September 5th. Autoliv's payout ratio is 32.22%.

Autoliv declared that its board has authorized a stock buyback program on Wednesday, June 4th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the auto parts company to purchase up to 31.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are 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.