Royal Bank of Canada Cuts Holdings in Autoliv, Inc. $ALV

Key Points

• Royal Bank of Canada has reduced its stake in Autoliv, Inc. by 2.8%, selling 4,024 shares and now holding 140,820 shares valued at approximately $12.45 million.
• Analysts forecast positive growth for Autoliv, with several firms raising their price targets, including Wells Fargo increasing its target from $106 to $126 and assigning an "equal weight" rating.
• Autoliv reported quarterly earnings of $2.21 per share, exceeding expectations, and announced a $2.50 billion stock repurchase program, indicating confidence in its stock valuation.

Royal Bank of Canada decreased its holdings in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,820 shares of the auto parts company's stock after selling 4,024 shares during the period. Royal Bank of Canada owned approximately 0.18% of Autoliv worth $12,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ALV. Bank of America Corp DE grew its holdings in shares of Autoliv by 40.6% in the 4th quarter. Bank of America Corp DE now owns 145,934 shares of the auto parts company's stock worth $13,687,000 after acquiring an additional 42,150 shares during the period. Captrust Financial Advisors grew its holdings in shares of Autoliv by 6.8% in the 4th quarter. Captrust Financial Advisors now owns 2,433 shares of the auto parts company's stock worth $228,000 after acquiring an additional 155 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in shares of Autoliv in the 4th quarter worth approximately $2,718,000. Deutsche Bank AG grew its holdings in shares of Autoliv by 2.3% in the 4th quarter. Deutsche Bank AG now owns 5,886 shares of the auto parts company's stock worth $552,000 after acquiring an additional 135 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of Autoliv in the 4th quarter worth approximately $902,000. Institutional investors and hedge funds own 69.57% of the company's stock.

Autoliv Trading Down 0.1%

Shares of ALV stock traded down $0.11 during mid-day trading on Wednesday, hitting $124.91. 586,987 shares of the company's stock were exchanged, compared to its average volume of 500,639. Autoliv, Inc. has a fifty-two week low of $75.49 and a fifty-two week high of $127.89. The stock has a 50-day simple moving average of $119.14 and a two-hundred day simple moving average of $105.10. 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 stock has a market cap of $9.59 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.29 and a beta of 1.35.

Autoliv (NYSE:ALV - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The auto parts company reported $2.21 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm earned $1.87 earnings per share. The business's revenue was up 4.2% on a year-over-year basis. Equities analysts expect that Autoliv, Inc. will post 9.51 EPS for the current fiscal year.

Autoliv announced that its board has initiated a stock repurchase program on Wednesday, June 4th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the auto parts company to buy up to 31.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALV. Robert W. Baird lowered their price target on Autoliv from $126.00 to $124.00 and set a "neutral" rating on the stock in a report on Monday, July 21st. UBS Group upped their price target on Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Jefferies Financial Group assumed coverage on Autoliv in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 target price on the stock. Finally, Royal Bank Of Canada assumed coverage on Autoliv in a research note on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $122.92.

Autoliv 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.