BorgWarner (NYSE:BWA) Given New $41.00 Price Target at Bank of America

BorgWarner (NYSE:BWA - Get Free Report) had its target price hoisted by equities research analysts at Bank of America from $35.00 to $41.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the auto parts company's stock. Bank of America's price objective suggests a potential upside of 22.79% from the stock's previous close.

Other analysts have also issued research reports about the company. Guggenheim decreased their price target on BorgWarner from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their target price on shares of BorgWarner from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Wall Street Zen upgraded shares of BorgWarner from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group raised shares of BorgWarner from a "neutral" rating to a "buy" rating and lifted their price target for the company from $31.00 to $34.00 in a report on Thursday, April 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price objective (up from $36.00) on shares of BorgWarner in a research note on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.47.

BorgWarner Stock Performance

BorgWarner stock traded up $0.32 during trading hours on Monday, hitting $33.39. The stock had a trading volume of 1,360,606 shares, compared to its average volume of 2,704,851. BorgWarner has a fifty-two week low of $24.40 and a fifty-two week high of $37.29. The company has a market cap of $7.34 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10. The company has a 50-day moving average of $30.37 and a two-hundred day moving average of $30.69. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.98 by $0.13. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The firm had revenue of $3.52 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same period last year, the business earned $1.03 earnings per share. BorgWarner's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that BorgWarner will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at BorgWarner

In related news, VP Isabelle Mckenzie sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the transaction, the vice president now owns 63,445 shares in the company, valued at approximately $2,109,546.25. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tonit M. Calaway sold 27,736 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $32.83, for a total transaction of $910,572.88. Following the completion of the sale, the executive vice president now directly owns 214,521 shares of the company's stock, valued at $7,042,724.43. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.45% of the company's stock.

Institutional Trading of BorgWarner

A number of large investors have recently made changes to their positions in the company. Global X Japan Co. Ltd. grew its stake in BorgWarner by 133.4% in the first quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company's stock valued at $26,000 after acquiring an additional 523 shares during the period. Manchester Capital Management LLC acquired a new position in shares of BorgWarner in the 1st quarter valued at approximately $30,000. LRI Investments LLC grew its position in shares of BorgWarner by 1,515.0% in the 4th quarter. LRI Investments LLC now owns 969 shares of the auto parts company's stock valued at $31,000 after purchasing an additional 909 shares during the period. Meeder Asset Management Inc. increased its stake in BorgWarner by 63.5% during the 1st quarter. Meeder Asset Management Inc. now owns 1,388 shares of the auto parts company's stock worth $40,000 after purchasing an additional 539 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in BorgWarner by 123.1% during the 1st quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company's stock worth $41,000 after buying an additional 793 shares during the period. Institutional investors own 95.67% of the company's stock.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.

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