BorgWarner (NYSE:BWA) Earns "Overweight" Rating from Piper Sandler

BorgWarner (NYSE:BWA - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Piper Sandler in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $37.00 price target on the auto parts company's stock, up from their prior price target of $36.00. Piper Sandler's price target suggests a potential upside of 12.38% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Evercore ISI lowered their price target on BorgWarner from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group upgraded shares of BorgWarner from a "neutral" rating to a "buy" rating and increased their target price for the company from $31.00 to $34.00 in a report on Thursday, April 10th. Barclays dropped their price target on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. BNP Paribas raised BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price objective on the stock in a research report on Tuesday, March 18th. Finally, Guggenheim cut their price target on shares of BorgWarner from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.73.

BorgWarner Stock Up 0.7%

Shares of NYSE BWA opened at $32.93 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The company has a 50-day moving average price of $28.86 and a 200-day moving average price of $30.90. The stock has a market capitalization of $7.23 billion, a P/E ratio of 23.02, a P/E/G ratio of 0.77 and a beta of 1.08. BorgWarner has a 1 year low of $24.40 and a 1 year high of $37.29.

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

Insiders Place Their Bets

In other BorgWarner news, EVP Tania Wingfield sold 24,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the sale, the executive vice president now owns 39,110 shares of the company's stock, valued at $1,125,976.90. This trade represents a 38.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $33.25, for a total value of $166,250.00. Following the sale, the vice president now owns 63,445 shares of the company's stock, valued at approximately $2,109,546.25. This trade represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,036 shares of company stock worth $2,017,364 in the last three months. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its stake in BorgWarner by 23.7% in the 1st quarter. Acadian Asset Management LLC now owns 8,979 shares of the auto parts company's stock worth $257,000 after buying an additional 1,723 shares in the last quarter. Woodline Partners LP raised its position in shares of BorgWarner by 4,140.3% during the 1st quarter. Woodline Partners LP now owns 556,924 shares of the auto parts company's stock valued at $15,956,000 after buying an additional 543,790 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of BorgWarner during the 1st quarter worth $1,223,000. Dean Capital Management grew its position in BorgWarner by 2.3% in the first quarter. Dean Capital Management now owns 56,723 shares of the auto parts company's stock worth $1,625,000 after acquiring an additional 1,278 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in BorgWarner in the first quarter worth $325,000. 95.67% of the stock is currently owned by institutional investors.

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.