Barclays Reaffirms "Overweight" Rating for BorgWarner (NYSE:BWA)

BorgWarner (NYSE:BWA - Get Free Report)'s stock had its "overweight" rating reissued by investment analysts at Barclays in a research report issued to clients and investors on Wednesday, MarketBeat reports. They currently have a $45.00 target price on the auto parts company's stock, up from their previous target price of $42.00. Barclays's target price would indicate a potential upside of 28.57% from the stock's previous close.

Several other research firms have also recently weighed in on BWA. The Goldman Sachs Group raised BorgWarner from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $31.00 to $34.00 in a research report on Thursday, April 10th. UBS Group lifted their price objective on BorgWarner from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price objective (up from $36.00) on shares of BorgWarner in a research report on Thursday, May 22nd. BNP Paribas upgraded shares of BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 target price for the company in a report on Tuesday, March 18th. Finally, Robert W. Baird lifted their target price on shares of BorgWarner from $32.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $39.07.

BorgWarner Trading Down 1.3%

Shares of NYSE BWA traded down $0.47 during trading hours on Wednesday, hitting $35.00. The company's stock had a trading volume of 536,782 shares, compared to its average volume of 2,688,321. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 1.97. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.56 and a beta of 1.09. BorgWarner has a 12 month low of $24.40 and a 12 month high of $37.29. The business has a 50-day simple moving average of $33.60 and a 200-day simple moving average of $30.91.

BorgWarner (NYSE:BWA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.13. The company had revenue of $3.52 billion for the quarter, compared to analysts' expectations of $3.39 billion. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. BorgWarner's quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. On average, analysts anticipate that BorgWarner will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at BorgWarner

In other news, VP Isabelle Mckenzie sold 5,000 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the transaction, the vice president directly owned 63,445 shares in the company, valued at $2,109,546.25. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $32.83, for a total transaction of $910,572.88. Following the sale, the executive vice president owned 214,521 shares of the company's stock, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

Institutional Investors Weigh In On BorgWarner

Several institutional investors have recently bought and sold shares of BWA. Global X Japan Co. Ltd. grew its stake in BorgWarner by 133.4% during the first quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company's stock worth $26,000 after buying an additional 523 shares during the period. Manchester Capital Management LLC acquired a new position in shares of BorgWarner during the first quarter worth $30,000. LRI Investments LLC lifted its position in shares of BorgWarner by 1,515.0% during the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company's stock worth $31,000 after purchasing an additional 909 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of BorgWarner by 63.5% during the first 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 lifted its position in shares of BorgWarner by 123.1% during the first quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company's stock worth $41,000 after purchasing an additional 793 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

BorgWarner Company Profile

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.