Autoliv (NYSE:ALV) Reaches New 12-Month High - Here's Why

Autoliv, Inc. (NYSE:ALV - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $118.57 and last traded at $118.77, with a volume of 58752 shares trading hands. The stock had previously closed at $117.17.

Wall Street Analyst Weigh In

ALV has been the topic of several research reports. UBS Group boosted their target price on Autoliv from $103.00 to $123.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. BNP Paribas upgraded Autoliv from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 9th. Mizuho boosted their target price on Autoliv from $95.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Jefferies Financial Group initiated coverage on Autoliv in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 target price on the stock. Finally, Royal Bank Of Canada initiated coverage on Autoliv in a research note on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Autoliv presently has an average rating of "Moderate Buy" and an average price target of $119.31.

Autoliv Trading Down 0.2%

The business has a 50 day moving average of $106.75 and a two-hundred day moving average of $97.60. 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 firm has a market cap of $9.10 billion, a P/E ratio of 13.55, a PEG ratio of 1.97 and a beta of 1.37.

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

Autoliv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders 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 2.89%. 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 dividend payout ratio is currently 32.22%.

Autoliv declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 4th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the auto parts company to purchase up to 31.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Autoliv news, Director Jan Carlson sold 1,555 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $108.32, for a total value of $168,437.60. Following the transaction, the director directly owned 77,493 shares of the company's stock, valued at $8,394,041.76. This represents a 1.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SouthState Corp acquired a new position in Autoliv in the 1st quarter valued at $25,000. AlphaQuest LLC increased its position in shares of Autoliv by 74.4% in the fourth quarter. AlphaQuest LLC now owns 314 shares of the auto parts company's stock worth $29,000 after purchasing an additional 134 shares during the period. GAMMA Investing LLC increased its position in shares of Autoliv by 122.9% in the first quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock worth $33,000 after purchasing an additional 204 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Autoliv in the first quarter worth $44,000. Finally, Twin Tree Management LP bought a new position in shares of Autoliv in the fourth quarter worth $50,000. 69.57% of the stock is owned by institutional investors and hedge funds.

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.