Autoliv (NYSE:ALV) Price Target Raised to $126.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has increased Autoliv's price target from $106.00 to $126.00, indicating a potential downside of 0.66% from the current price.
• Several other research firms have also modified their ratings and price targets for Autoliv, with Barclays setting a target of $135.00 and Jefferies Financial Group establishing a target of $140.00.
• Autoliv has approved a significant $2.50 billion share buyback plan, demonstrating confidence in the company's value as it authorizes the purchase of up to 31.3% of its stock.

Autoliv (NYSE:ALV - Get Free Report) had its price target lifted by investment analysts at Wells Fargo & Company from $106.00 to $126.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's price target would suggest a potential downside of 0.09% from the company's previous close.

A number of other research analysts also recently issued reports on ALV. UBS Group boosted their price target on Autoliv from $103.00 to $123.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Jefferies Financial Group initiated coverage on Autoliv in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 price objective for the company. Barclays restated an "overweight" rating and issued a $135.00 price objective (up from $105.00) on shares of Autoliv in a research report on Wednesday, July 16th. Robert W. Baird cut their price objective on Autoliv from $126.00 to $124.00 and set a "neutral" rating for the company in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded Autoliv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.92.

Autoliv Stock Performance

NYSE:ALV traded down $1.54 during trading hours on Tuesday, reaching $126.11. The company had a trading volume of 369,815 shares, compared to its average volume of 515,025. Autoliv has a 1-year low of $75.49 and a 1-year high of $127.89. The firm has a market cap of $9.69 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.32 and a beta of 1.35. The business's 50 day moving average price is $118.60 and its 200-day moving average price is $104.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.70.

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

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

Institutional Trading of Autoliv

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Autoliv by 122.9% during the first 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. Summit Securities Group LLC purchased a new stake in shares of Autoliv during the first quarter worth approximately $1,029,000. SG Americas Securities LLC purchased a new stake in shares of Autoliv during the first quarter worth approximately $637,000. Impax Asset Management Group plc increased its position in shares of Autoliv by 11.9% during the first quarter. Impax Asset Management Group plc now owns 84,358 shares of the auto parts company's stock worth $7,461,000 after purchasing an additional 8,953 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Autoliv by 7.3% during the first quarter. Asset Management One Co. Ltd. now owns 75,591 shares of the auto parts company's stock worth $6,686,000 after purchasing an additional 5,137 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

Autoliv Company 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.