Wells Fargo & Company Forecasts Strong Price Appreciation for BorgWarner (NYSE:BWA) Stock

BorgWarner (NYSE:BWA - Get Free Report) had its price objective lifted by equities research analysts at Wells Fargo & Company from $44.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the auto parts company's stock. Wells Fargo & Company's price objective points to a potential upside of 29.35% from the stock's previous close.

A number of other equities analysts have also recently issued reports on BWA. Wall Street Zen upgraded shares of BorgWarner from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Piper Sandler reiterated an "overweight" rating and set a $37.00 price target (up previously from $36.00) on shares of BorgWarner in a report on Thursday, May 22nd. Morgan Stanley reduced their price target on shares of BorgWarner from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Barclays lowered their price objective on BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, TD Cowen lowered BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BorgWarner currently has a consensus rating of "Moderate Buy" and an average target price of $37.53.

BorgWarner Stock Up 3.9%

Shares of NYSE BWA traded up $1.31 on Tuesday, reaching $34.79. 2,917,369 shares of the company's stock traded hands, compared to its average volume of 2,721,662. The business's 50 day simple moving average is $31.91 and its two-hundred day simple moving average is $30.61. BorgWarner has a 12 month low of $24.40 and a 12 month high of $37.29. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 1.48 and a beta of 1.10. The company has a quick ratio of 1.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.65.

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

Insider Activity at BorgWarner

In other news, VP Isabelle Mckenzie sold 5,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the completion of the sale, the vice president directly owned 63,445 shares in the company, valued at $2,109,546.25. This represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Tonit M. Calaway sold 27,736 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $32.83, for a total value of $910,572.88. Following the completion of the transaction, the executive vice president directly owned 214,521 shares in the company, 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. 0.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in BorgWarner by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,568,627 shares of the auto parts company's stock worth $331,429,000 after acquiring an additional 284,587 shares during the period. Invesco Ltd. raised its position in shares of BorgWarner by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company's stock valued at $216,014,000 after purchasing an additional 628,930 shares during the period. Alliancebernstein L.P. raised its position in shares of BorgWarner by 6.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company's stock valued at $190,142,000 after purchasing an additional 381,504 shares during the period. LSV Asset Management lifted its stake in shares of BorgWarner by 36.7% during the 1st quarter. LSV Asset Management now owns 5,889,080 shares of the auto parts company's stock valued at $168,722,000 after buying an additional 1,580,935 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. boosted its holdings in BorgWarner by 7.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company's stock worth $129,664,000 after buying an additional 267,250 shares during the period. 95.67% of the stock is 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.