BMO Capital Markets Boosts BorgWarner Inc. (BWA) Price Target to $65.00

BorgWarner Inc. (NYSE:BWA) had its target price boosted by BMO Capital Markets from $60.00 to $65.00 in a research note published on Monday morning. They currently have an outperform rating on the auto parts company’s stock.

Several other brokerages also recently commented on BWA. Citigroup Inc. upped their target price on shares of BorgWarner from $50.00 to $54.00 and gave the company a neutral rating in a research note on Monday. Barclays PLC set a $46.00 target price on shares of BorgWarner and gave the company a hold rating in a research note on Sunday, August 6th. Deutsche Bank AG upped their target price on shares of BorgWarner from $54.00 to $55.00 and gave the company a buy rating in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of BorgWarner from a hold rating to a buy rating and set a $50.00 target price for the company in a research note on Tuesday, August 22nd. Finally, KeyCorp upped their target price on shares of BorgWarner from $50.00 to $56.00 and gave the company a buy rating in a research note on Friday, October 13th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $47.72.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $0.78 earnings per share. BorgWarner’s revenue was up 9.1% compared to the same quarter last year.

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In related news, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total value of $134,970.00. Following the completion of the transaction, the executive vice president now owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the completion of the transaction, the insider now directly owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Delta Lloyd Asset Management N.V. bought a new position in BorgWarner in the second quarter valued at $1,063,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in BorgWarner by 19.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 54,017 shares of the auto parts company’s stock valued at $2,288,000 after purchasing an additional 8,844 shares in the last quarter. Kiltearn Partners LLP grew its position in BorgWarner by 0.9% in the second quarter. Kiltearn Partners LLP now owns 3,152,452 shares of the auto parts company’s stock valued at $133,538,000 after purchasing an additional 28,300 shares in the last quarter. Prudential Financial Inc. grew its position in BorgWarner by 88.1% in the second quarter. Prudential Financial Inc. now owns 816,422 shares of the auto parts company’s stock valued at $34,584,000 after purchasing an additional 382,494 shares in the last quarter. Finally, Royal Bank of Canada grew its position in BorgWarner by 2.6% in the second quarter. Royal Bank of Canada now owns 505,769 shares of the auto parts company’s stock valued at $21,424,000 after purchasing an additional 12,840 shares in the last quarter. 92.39% of the stock is owned by institutional investors and hedge funds.

About BorgWarner

BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.

Analyst Recommendations for BorgWarner (NYSE:BWA)

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