Evercore ISI Cuts BorgWarner (NYSE:BWA) Price Target to $40.00

BorgWarner (NYSE:BWA) had its price objective lowered by Evercore ISI from $43.00 to $40.00 in a research note published on Monday, MarketBeat Ratings reports. Evercore ISI currently has an outperform rating on the auto parts company’s stock.

BWA has been the subject of several other reports. Wells Fargo & Company increased their price objective on BorgWarner from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Barclays cut their target price on BorgWarner from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. StockNews.com lowered BorgWarner from a “buy” rating to a “hold” rating in a report on Friday, February 7th. JPMorgan Chase & Co. cut their target price on BorgWarner from $51.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Guggenheim restated a “buy” rating and set a $41.00 target price on shares of BorgWarner in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, BorgWarner presently has a consensus rating of “Moderate Buy” and an average price target of $40.20.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $28.89 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.48 and a debt-to-equity ratio of 0.66. BorgWarner has a 1 year low of $28.65 and a 1 year high of $38.22. The business has a fifty day simple moving average of $32.11 and a 200 day simple moving average of $33.22. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 0.63 and a beta of 1.18.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. As a group, sell-side analysts predict that BorgWarner will post 4.54 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, March 3rd. BorgWarner’s dividend payout ratio is currently 30.77%.

Insider Activity

In related news, CAO Tonit M. Calaway sold 13,500 shares of BorgWarner stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $30.16, for a total transaction of $407,160.00. Following the sale, the chief accounting officer now directly owns 259,310 shares of the company’s stock, valued at $7,820,789.60. This trade represents a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stefan Demmerle sold 20,544 shares of BorgWarner stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $34.28, for a total value of $704,248.32. Following the sale, the vice president now directly owns 206,969 shares in the company, valued at approximately $7,094,897.32. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BorgWarner

A number of institutional investors have recently added to or reduced their stakes in BWA. Brooklyn Investment Group acquired a new stake in BorgWarner during the third quarter worth about $32,000. True Wealth Design LLC acquired a new stake in BorgWarner during the third quarter worth about $38,000. Avior Wealth Management LLC grew its position in BorgWarner by 31.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after buying an additional 342 shares in the last quarter. Trust Co. of Vermont grew its position in BorgWarner by 88.1% during the third quarter. Trust Co. of Vermont now owns 1,377 shares of the auto parts company’s stock worth $50,000 after buying an additional 645 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in BorgWarner during the fourth quarter worth about $59,000. 95.67% of the stock is owned by institutional investors and hedge funds.

About BorgWarner

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.