Zacks Investment Research Upgrades Autoliv (ALV) to Hold

Autoliv (NYSE:ALV) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Product launches and improving light-vehicle production in North and South America are anticipated to drive Autoliv’s financials. Also, its ongoing plan of production line redesigning will reduce costs related to product launches. The company also pays dividends to reward shareholders. Moreover, Autoliv also expands its footprint through acquisitions and JVs. Over the past three months, shares of the company have outperformed the industry it belongs to. However, for 2018, the company has reduced its guidance due to uncertain demand in China and Europe. At present, the company anticipates organic sales growth of 8% compared with 10% stated earlier. Additionally, new tariffs, leading to rise in raw material costs and product launch-related costs, might hurt the company’s profit margin.”

Several other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group set a $100.00 price target on shares of Autoliv and gave the stock a “buy” rating in a research report on Friday, October 5th. BMO Capital Markets restated a “buy” rating and issued a $114.00 price target on shares of Autoliv in a research report on Wednesday, August 29th. Longbow Research restated a “buy” rating and issued a $120.00 price target on shares of Autoliv in a research report on Friday, August 24th. Daiwa Capital Markets set a $89.00 price target on shares of Autoliv and gave the stock a “buy” rating in a research report on Monday, October 29th. Finally, Evercore ISI cut shares of Autoliv to a “hold” rating and set a $90.00 price target on the stock. in a research report on Friday, October 12th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $108.00.

Autoliv stock opened at $82.88 on Wednesday. The company has a market cap of $7.51 billion, a PE ratio of 11.88, a P/E/G ratio of 0.73 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.82. Autoliv has a 1 year low of $75.99 and a 1 year high of $115.37.

Autoliv (NYSE:ALV) last released its quarterly earnings data on Friday, October 26th. The auto parts company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.23). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.08 billion. Autoliv had a net margin of 3.52% and a return on equity of 20.06%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. As a group, analysts anticipate that Autoliv will post 7.13 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ALV. JPMorgan Chase & Co. boosted its stake in Autoliv by 140.7% during the third quarter. JPMorgan Chase & Co. now owns 332,746 shares of the auto parts company’s stock worth $28,842,000 after buying an additional 194,499 shares during the period. BlackRock Inc. boosted its stake in Autoliv by 6.7% during the second quarter. BlackRock Inc. now owns 2,958,591 shares of the auto parts company’s stock worth $423,729,000 after buying an additional 186,407 shares during the period. Jane Street Group LLC purchased a new position in Autoliv during the third quarter worth $16,029,000. Vanguard Group Inc. boosted its stake in Autoliv by 11.3% during the third quarter. Vanguard Group Inc. now owns 1,616,434 shares of the auto parts company’s stock worth $140,114,000 after buying an additional 164,737 shares during the period. Finally, Nuance Investments LLC boosted its stake in Autoliv by 75.6% during the third quarter. Nuance Investments LLC now owns 235,376 shares of the auto parts company’s stock worth $20,418,000 after buying an additional 101,306 shares during the period. 31.69% of the stock is owned by institutional investors.

Autoliv Company Profile

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry worldwide. The company operates through two segments, Passive Safety and Electronics. It offers modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, battery cable cutters, pedestrian protection systems, and child seats.

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