The Goldman Sachs Group Cuts BorgWarner (NYSE:BWA) Price Target to $31.00

BorgWarner (NYSE:BWA) had its price objective lowered by equities researchers at The Goldman Sachs Group from $35.00 to $31.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. The Goldman Sachs Group’s price target points to a potential downside of 2.76% from the company’s current price.

Several other analysts have also weighed in on BWA. Wells Fargo & Company decreased their price objective on BorgWarner from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Guggenheim reissued a “buy” rating and set a $41.00 price objective on shares of BorgWarner in a report on Thursday, December 12th. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $39.00 to $43.00 in a report on Monday, October 14th. JPMorgan Chase & Co. cut their target price on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.73.

BorgWarner Trading Down 1.3 %

Shares of NYSE:BWA traded down $0.42 during midday trading on Thursday, reaching $31.88. The company had a trading volume of 472,218 shares, compared to its average volume of 2,007,641. The company has a fifty day simple moving average of $33.24 and a two-hundred day simple moving average of $33.36. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 0.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. BorgWarner has a 1-year low of $29.51 and a 1-year high of $38.22.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 EPS. Research analysts predict that BorgWarner will post 4.22 earnings per share for the current year.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, VP Stefan Demmerle sold 20,544 shares of BorgWarner stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $34.28, for a total transaction of $704,248.32. Following the transaction, the vice president now owns 206,969 shares of the company’s stock, valued at $7,094,897.32. This trade represents a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Arthur Farrell sold 20,266 shares of BorgWarner stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.47, for a total transaction of $698,569.02. Following the completion of the sale, the executive vice president now directly owns 32,366 shares in the company, valued at $1,115,656.02. This trade represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,010 shares of company stock worth $7,678,076. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On BorgWarner

Several institutional investors have recently bought and sold shares of BWA. Wellington Management Group LLP lifted its position in shares of BorgWarner by 1.4% during the third quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company’s stock worth $1,003,000 after acquiring an additional 394 shares in the last quarter. Mirabella Financial Services LLP bought a new position in shares of BorgWarner in the third quarter worth $908,000. Swedbank AB increased its stake in BorgWarner by 236.5% in the third quarter. Swedbank AB now owns 844,112 shares of the auto parts company’s stock valued at $30,633,000 after acquiring an additional 593,265 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in BorgWarner by 28.4% in the third quarter. HITE Hedge Asset Management LLC now owns 290,317 shares of the auto parts company’s stock valued at $10,536,000 after acquiring an additional 64,126 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in BorgWarner in the second quarter valued at $1,016,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

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.