BorgWarner Inc. (NYSE:BWA – Get Rating) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 5,850,000 shares, a drop of 9.0% from the August 31st total of 6,430,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is currently 3.3 days.
Wall Street Analyst Weigh In
BWA has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded BorgWarner from a "hold" rating to a "buy" rating and raised their target price for the company from $43.00 to $48.00 in a research report on Monday, July 18th. Bank of America dropped their target price on BorgWarner from $78.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, September 9th. Royal Bank of Canada raised their target price on BorgWarner from $46.00 to $48.00 and gave the company a "sector perform" rating in a research report on Thursday, August 4th. Wells Fargo & Company raised their price target on shares of BorgWarner from $52.00 to $57.00 and gave the company an "overweight" rating in a research note on Monday, July 11th. Finally, Morgan Stanley reaffirmed a "maintains" rating and issued a $32.00 price target (up from $30.00) on shares of BorgWarner in a research note on Thursday, August 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $46.89.
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BorgWarner Price Performance
BWA traded up $1.35 during trading on Monday, reaching $32.75. The company's stock had a trading volume of 2,155,001 shares, compared to its average volume of 2,002,831. The company has a quick ratio of 1.32, a current ratio of 1.77 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $37.22 and a two-hundred day simple moving average of $37.09. BorgWarner has a 1 year low of $31.14 and a 1 year high of $50.09. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.27 and a beta of 1.38.
BorgWarner (NYSE:BWA – Get Rating) last released its earnings results on Wednesday, August 3rd. The auto parts company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.19. BorgWarner had a net
margin of 4.36% and a return on equity of 13.13%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the company posted $1.08 EPS. The business's revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that BorgWarner will post 4.27 EPS for the current year.
BorgWarner Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Wednesday, August 31st. BorgWarner's payout ratio is presently 25.28%.
Institutional Trading of BorgWarner
Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of BorgWarner during the 1st quarter valued at approximately $27,000. Capital Advisors Ltd. LLC raised its position in shares of BorgWarner by 7,755.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 707 shares of the auto parts company's stock valued at $28,000 after buying an additional 698 shares during the period. CX Institutional purchased a new stake in shares of BorgWarner during the 2nd quarter valued at approximately $31,000. Northern Oak Wealth Management Inc. purchased a new stake in shares of BorgWarner during the 4th quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of BorgWarner during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 92.14% of the company's stock.
About BorgWarner
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BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.
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