Wells Fargo & Company Issues Positive Forecast for Autoliv (NYSE:ALV) Stock Price

Autoliv (NYSE:ALV) had its target price hoisted by Wells Fargo & Company from $126.00 to $132.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

A number of other research firms have also recently weighed in on ALV. 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 price target on the stock. UBS Group boosted their target price on Autoliv from $103.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Robert W. Baird dropped their price target on shares of Autoliv from $126.00 to $124.00 and set a “neutral” rating on the stock in a research note on Monday, July 21st. Barclays reissued an “overweight” rating and set a $135.00 price objective (up previously from $105.00) on shares of Autoliv in a report on Wednesday, July 16th. Finally, Mizuho upped their target price on shares of Autoliv from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.75.

Autoliv Stock Performance

Shares of Autoliv stock opened at $123.20 on Thursday. The business has a 50-day simple moving average of $120.15 and a 200-day simple moving average of $106.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.93. Autoliv has a one year low of $75.49 and a one year high of $127.89. The company has a market cap of $9.46 billion, a PE ratio of 13.48, a P/E/G ratio of 1.29 and a beta of 1.35.

Autoliv (NYSE:ALV) last issued its quarterly earnings results on Friday, July 18th. The auto parts company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. Autoliv had a net margin of 6.83% and a return on equity of 30.73%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $1.87 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts forecast that Autoliv will post 9.51 EPS for the current fiscal year.

Autoliv announced that its Board of Directors has authorized a share buyback program on Wednesday, June 4th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the auto parts company to reacquire up to 31.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Autoliv

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SouthState Corp purchased a new position in shares of Autoliv during the first quarter worth about $25,000. True Wealth Design LLC boosted its holdings in shares of Autoliv by 1,892.3% in the second quarter. True Wealth Design LLC now owns 259 shares of the auto parts company’s stock valued at $29,000 after acquiring an additional 246 shares in the last quarter. GAMMA Investing LLC increased its stake 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 acquiring an additional 204 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Autoliv by 103.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 348 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 177 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Autoliv during the first quarter worth about $44,000. 69.57% of the stock is 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.