Wells Fargo & Company Cuts Autoliv (NYSE:ALV) Price Target to $102.00

Autoliv (NYSE:ALV) had its price objective trimmed by Wells Fargo & Company from $103.00 to $102.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the auto parts company’s stock.

Several other equities research analysts also recently weighed in on ALV. Robert W. Baird reduced their price target on Autoliv from $128.00 to $111.00 and set a neutral rating on the stock in a report on Monday, July 22nd. StockNews.com cut Autoliv from a strong-buy rating to a buy rating in a research note on Thursday, June 13th. HSBC assumed coverage on Autoliv in a research note on Monday, July 15th. They issued a buy rating and a $134.00 price objective on the stock. Bank of America dropped their price objective on Autoliv from $145.00 to $133.00 and set a buy rating on the stock in a research note on Monday, July 22nd. Finally, Barclays dropped their price objective on Autoliv from $125.00 to $115.00 and set an equal weight rating on the stock in a research note on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $124.71.

Autoliv Trading Down 3.8 %

Shares of NYSE ALV opened at $92.85 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.73 and a current ratio of 0.98. The business’s 50 day moving average price is $98.98 and its 200-day moving average price is $111.29. Autoliv has a fifty-two week low of $89.37 and a fifty-two week high of $129.38. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.65 and a beta of 1.60.

Autoliv (NYSE:ALV) last issued its quarterly earnings results on Friday, July 19th. The auto parts company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Autoliv had a return on equity of 30.05% and a net margin of 5.91%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts expect that Autoliv will post 9.05 earnings per share for the current year.

Autoliv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $2.72 annualized dividend and a dividend yield of 2.93%. Autoliv’s dividend payout ratio is presently 42.43%.

Institutional Trading of Autoliv

Several hedge funds and other institutional investors have recently made changes to their positions in ALV. Swedbank AB purchased a new stake in shares of Autoliv during the 1st quarter valued at $235,996,000. Norges Bank purchased a new stake in shares of Autoliv during the 4th quarter valued at $91,065,000. Balyasny Asset Management L.P. lifted its holdings in shares of Autoliv by 169.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 759,239 shares of the auto parts company’s stock valued at $83,661,000 after purchasing an additional 477,800 shares during the last quarter. Caxton Associates LP lifted its holdings in shares of Autoliv by 121.9% during the 1st quarter. Caxton Associates LP now owns 686,622 shares of the auto parts company’s stock valued at $82,690,000 after purchasing an additional 377,233 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Autoliv by 130.2% during the 2nd quarter. AQR Capital Management LLC now owns 498,575 shares of the auto parts company’s stock valued at $53,111,000 after purchasing an additional 281,956 shares during the last quarter. Hedge funds and other institutional investors own 69.57% of the company’s stock.

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.