Autoliv (NYSE:ALV) Shares Gap Up After Strong Earnings

Autoliv, Inc. (NYSE:ALV) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $82.24, but opened at $86.11. Autoliv shares last traded at $88.54, with a volume of 555,900 shares changing hands.

The auto parts company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.45. Autoliv had a net margin of 6.21% and a return on equity of 28.62%. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business posted $1.58 earnings per share.

Autoliv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, March 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.21%. Autoliv’s dividend payout ratio is currently 34.70%.

Wall Street Analyst Weigh In

ALV has been the subject of a number of research reports. Mizuho dropped their price objective on shares of Autoliv from $112.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Robert W. Baird decreased their price target on Autoliv from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday. Daiwa Capital Markets raised Autoliv from a “neutral” rating to an “outperform” rating and set a $109.00 price objective on the stock in a report on Tuesday, January 7th. StockNews.com lowered shares of Autoliv from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, TD Cowen assumed coverage on Autoliv in a research report on Friday, March 7th. They set a “buy” rating and a $116.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.71.

Insiders Place Their Bets

In other Autoliv news, CFO Fredrik Westin sold 1,803 shares of Autoliv stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $99.19, for a total value of $178,839.57. Following the transaction, the chief financial officer now directly owns 7,261 shares of the company’s stock, valued at $720,218.59. The trade was a 19.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mikael Bratt sold 5,760 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $98.90, for a total transaction of $569,664.00. Following the transaction, the chief executive officer now directly owns 23,307 shares of the company’s stock, valued at $2,305,062.30. This represents a 19.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,253 shares of company stock valued at $915,534 over the last quarter. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Autoliv

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Autoliv in the 1st quarter valued at $637,000. GAMMA Investing LLC increased its holdings in 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 buying an additional 204 shares during the last quarter. Signet Financial Management LLC acquired a new stake in shares of Autoliv in the first quarter valued at approximately $340,000. Farther Finance Advisors LLC raised its position in shares of Autoliv by 37.6% in the first quarter. Farther Finance Advisors LLC now owns 2,644 shares of the auto parts company’s stock valued at $237,000 after purchasing an additional 723 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Autoliv by 188.6% during the first 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 during the period. Institutional investors own 69.57% of the company’s stock.

Autoliv Stock Performance

The stock’s 50-day moving average price is $90.96 and its 200-day moving average price is $94.42. The company has a market cap of $6.75 billion, a P/E ratio of 10.81, a PEG ratio of 0.73 and a beta of 1.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.96 and a quick ratio of 0.71.

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.