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

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 objective raised by equities research analysts at Wells Fargo & Company from $106.00 to $126.00 in a note issued to 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 objective would indicate a potential downside of 0.66% from the company's current price.

Several other research firms also recently weighed in on ALV. Barclays restated an "overweight" rating and set a $135.00 target price (up from $105.00) on shares of Autoliv in a report on Wednesday, July 16th. Mizuho upped their price objective on shares of Autoliv from $95.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Jefferies Financial Group started coverage on shares of Autoliv in a research note on Wednesday, July 2nd. They set a "buy" rating and a $140.00 price objective for the company. Wall Street Zen raised shares of Autoliv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, Royal Bank Of Canada assumed coverage on shares of Autoliv in a research note on Wednesday, June 25th. They set an "outperform" rating and a $133.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.38.

Autoliv Price Performance

ALV stock opened at $126.83 on Tuesday. The business has a 50 day simple moving average of $117.86 and a 200-day simple moving average of $103.82. Autoliv has a twelve month low of $75.49 and a twelve month high of $126.96. The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $9.74 billion, a P/E ratio of 13.88, a PEG ratio of 1.29 and a beta of 1.34.

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 for the quarter, beating analysts' consensus estimates of $2.07 by $0.14. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.57 billion. Autoliv had a net margin of 6.83% and a return on equity of 30.73%. Autoliv's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.87 EPS. As a group, equities analysts anticipate that Autoliv will post 9.51 EPS for the current year.

Autoliv declared that its board has approved a share buyback plan on Wednesday, June 4th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 31.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Autoliv

In related news, Director Jan Carlson sold 1,555 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $108.32, for a total transaction of $168,437.60. Following the transaction, the director directly owned 77,493 shares in the company, valued at $8,394,041.76. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Autoliv

A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC lifted its stake in Autoliv by 48.2% in the second quarter. Kestra Investment Management LLC now owns 1,266 shares of the auto parts company's stock valued at $142,000 after buying an additional 412 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Autoliv by 28.2% during the second quarter. Captrust Financial Advisors now owns 3,647 shares of the auto parts company's stock valued at $408,000 after purchasing an additional 803 shares in the last quarter. Manhattan West Asset Management LLC raised its stake in shares of Autoliv by 5.0% during the second quarter. Manhattan West Asset Management LLC now owns 30,538 shares of the auto parts company's stock valued at $3,417,000 after purchasing an additional 1,450 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Autoliv during the second quarter worth about $276,000. Finally, Tidal Investments LLC acquired a new position in Autoliv during the second quarter worth about $252,000. 69.57% of the stock is currently owned by institutional investors.

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.

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