Optimize Financial Inc Takes Position in Autoliv, Inc. $ALV

Key Points

• Optimize Financial Inc has acquired a new stake in Autoliv, Inc., purchasing 7,232 shares valued at approximately $640,000.
• Autoliv reported a quarterly earnings increase, with $2.21 earnings per share, exceeding estimates by $0.14 and a year-over-year revenue growth of 4.2%.
• The company has authorized a $2.50 billion stock buyback program, indicating confidence in its stock's undervaluation.

Optimize Financial Inc purchased a new position in shares of Autoliv, Inc. (NYSE:ALV - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,232 shares of the auto parts company's stock, valued at approximately $640,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Corp bought a new position in shares of Autoliv during the 1st quarter worth approximately $25,000. GAMMA Investing LLC lifted its holdings in shares of Autoliv by 122.9% in the 1st quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock worth $33,000 after purchasing an additional 204 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Autoliv in the 1st quarter worth $44,000. Signaturefd LLC lifted its holdings in shares of Autoliv by 63.4% in the 1st quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock worth $60,000 after purchasing an additional 263 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Autoliv by 188.6% in the 1st quarter. UMB Bank n.a. now owns 788 shares of the auto parts company's stock worth $70,000 after purchasing an additional 515 shares in the last quarter. 69.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALV has been the topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on Autoliv in a report on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 target price on the stock. Wall Street Zen upgraded Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Barclays reiterated an "overweight" rating and issued a $135.00 target price (up from $105.00) on shares of Autoliv in a report on Wednesday, July 16th. UBS Group increased their target price on Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Wells Fargo & Company raised their price objective on Autoliv from $106.00 to $126.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.92.

Autoliv Stock Down 1.2%

NYSE:ALV traded down $1.54 during trading hours on Friday, hitting $126.11. 369,815 shares of the company traded hands, compared to its average volume of 515,025. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm's 50-day simple moving average is $118.60 and its 200-day simple moving average is $104.56. Autoliv, Inc. has a one year low of $75.49 and a one year high of $127.89. The company has a market cap of $9.69 billion, a PE ratio of 13.80, a PEG ratio of 1.32 and a beta of 1.35.

Autoliv (NYSE:ALV - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The auto parts company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. Autoliv had a return on equity of 30.73% and a net margin of 6.83%.The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the business earned $1.87 EPS. The business's revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Autoliv, Inc. will post 9.51 earnings per share for the current year.

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

About Autoliv

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.