Autoliv (NYSE:ALV) Coverage Initiated at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group initiated coverage on shares of Autoliv (NYSE:ALV) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $140.00 price target on the auto parts company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 18.91% from the company’s current price.

A number of other research firms have also issued reports on ALV. TD Cowen began coverage on Autoliv in a research report on Friday, March 7th. They issued a “buy” rating and a $116.00 price target for the company. BNP Paribas upgraded Autoliv from a “hold” rating to a “strong-buy” rating in a report on Friday, May 9th. Cowen began coverage on Autoliv in a research note on Thursday, March 6th. They issued a “buy” rating for the company. BNP Paribas Exane upgraded Autoliv from a “neutral” rating to an “outperform” rating and set a $123.00 price target on the stock in a report on Friday, May 9th. Finally, Wells Fargo & Company upped their price objective on shares of Autoliv from $100.00 to $104.00 and gave the company an “equal weight” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.06.

Autoliv Trading Down 0.5%

Shares of ALV opened at $117.74 on Wednesday. Autoliv has a 52-week low of $75.49 and a 52-week high of $118.34. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average is $103.85 and its two-hundred day moving average is $96.53. The stock has a market cap of $9.10 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

Autoliv (NYSE:ALV) last posted its quarterly earnings results on Wednesday, April 16th. The auto parts company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.43. Autoliv had a net margin of 6.63% and a return on equity of 30.47%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm posted $1.58 earnings per share. Research analysts forecast that Autoliv will post 9.51 earnings per share for the current fiscal year.

Autoliv announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 4th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the auto parts company to buy up to 31.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Autoliv

In related news, Director Jan Carlson sold 1,555 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $108.32, for a total transaction of $168,437.60. Following the sale, the director directly owned 77,493 shares of the company’s stock, valued at $8,394,041.76. This represents a 1.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional Trading of Autoliv

Large investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Autoliv by 93.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 327,500 shares of the auto parts company’s stock valued at $28,967,000 after purchasing an additional 157,952 shares during the period. Optimize Financial Inc acquired a new stake in Autoliv in the 1st quarter valued at about $640,000. Zurich Insurance Group Ltd FI purchased a new position in shares of Autoliv in the 1st quarter valued at about $1,300,000. United Services Automobile Association purchased a new position in shares of Autoliv in the 1st quarter valued at about $423,000. Finally, Everstar Asset Management LLC grew its position in shares of Autoliv by 138.2% during the first quarter. Everstar Asset Management LLC now owns 7,371 shares of the auto parts company’s stock worth $652,000 after buying an additional 4,276 shares in the last quarter. Hedge funds and other institutional investors own 69.57% of the company’s stock.

Autoliv Company Profile

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.