Autoliv (NYSE:ALV) Sets New 52-Week High - Here's What Happened

Key Points

• Autoliv, Inc. reached a new 52-week high, trading at $119.05, with analysts forecasting an average price target of $120.64 and a consensus rating of "Moderate Buy."
• The company reported earnings of $2.21 per share, surpassing estimates, with a revenue of $2.71 billion for the quarter—a 4.2% increase year-over-year.
• Autoliv announced a quarterly dividend increase from $0.70 to $0.85 and has a share buyback plan of up to $2.50 billion, indicating strong confidence in its stock value.

Shares of Autoliv, Inc. (NYSE:ALV - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $119.05 and last traded at $118.91, with a volume of 400252 shares traded. The stock had previously closed at $118.81.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Autoliv in a research note on Wednesday, July 2nd. They set a "buy" rating and a $140.00 target price for the company. Robert W. Baird cut their price target on shares of Autoliv from $126.00 to $124.00 and set a "neutral" rating on the stock in a research note on Monday, July 21st. UBS Group lifted their price target on shares of Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Mizuho lifted their price target on shares of Autoliv from $95.00 to $112.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, BNP Paribas upgraded shares of Autoliv from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Autoliv presently has a consensus rating of "Moderate Buy" and an average price target of $120.64.

Autoliv Stock Performance

The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $9.13 billion, a PE ratio of 13.01, a PEG ratio of 1.20 and a beta of 1.39. The firm's 50-day simple moving average is $113.07 and its two-hundred day simple moving average is $100.48.

Autoliv (NYSE:ALV - Get Free Report) last posted its earnings results on Friday, July 18th. The auto parts company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. The company had revenue of $2.71 billion during 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 company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.87 earnings per share. On average, equities research analysts expect that Autoliv, Inc. will post 9.51 earnings per share for the current fiscal year.

Autoliv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a $0.85 dividend. This is a positive change from Autoliv's previous quarterly dividend of $0.70. This represents a $3.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Autoliv's payout ratio is presently 30.63%.

Autoliv declared that its board has approved a share buyback 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 reacquire up to 31.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Autoliv

In other news, Director Jan Carlson sold 1,555 shares of the business'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 owned 77,493 shares in the company, valued at approximately $8,394,041.76. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SouthState Corp bought a new stake in shares of Autoliv during the first quarter valued at approximately $25,000. True Wealth Design LLC increased its position in shares of Autoliv by 1,892.3% during the second quarter. True Wealth Design LLC now owns 259 shares of the auto parts company's stock valued at $29,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC increased its position 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Autoliv by 103.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 348 shares of the auto parts company's stock valued at $39,000 after purchasing an additional 177 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of Autoliv during the first quarter valued at approximately $44,000. Institutional investors 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.

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