Zacks Investment Research Lowers Autoliv (ALV) to Sell

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Zacks Investment Research cut shares of Autoliv (NYSE:ALV) from a hold rating to a sell rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “For 2019, Autoliv expects its organic sales growth to be around 5% based on customer call-offs and light vehicle production outlook that is slightly below the IHS estimate. Moreover, lower demand for new vehicles in China along with volume reduction in Europe due to switching emissions-testing procedure to WLTP by the European Union are headwinds before Autoliv. Also, the company’s gross margin is under pressure mainly due to raw material and launch-related costs and effects of currency changes. Over the past one year, shares of Autoliv have underperformed the industry it belongs to.”

A number of other research firms have also recently commented on ALV. Berenberg Bank upgraded shares of Autoliv from a hold rating to a buy rating in a research note on Tuesday, February 19th. KeyCorp reiterated a buy rating and issued a $95.00 target price on shares of Autoliv in a research note on Sunday, January 6th. TheStreet cut shares of Autoliv from a b- rating to a c+ rating in a research note on Friday, January 4th. Longbow Research reiterated a hold rating on shares of Autoliv in a research note on Wednesday, March 6th. Finally, Barclays set a $60.00 target price on shares of Autoliv and gave the stock a sell rating in a research note on Friday, January 4th. Nine investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $89.96.

Shares of Autoliv stock opened at $86.75 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.88 and a debt-to-equity ratio of 0.85. Autoliv has a 52-week low of $67.26 and a 52-week high of $115.37. The company has a market capitalization of $7.57 billion, a PE ratio of 13.05, a PEG ratio of 1.10 and a beta of 1.34.

Autoliv (NYSE:ALV) last released its earnings results on Tuesday, January 29th. The auto parts company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.24 billion. Autoliv had a return on equity of 22.59% and a net margin of 2.06%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. On average, equities research analysts expect that Autoliv will post 7.12 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.86%. The ex-dividend date is Tuesday, May 21st. Autoliv’s payout ratio is 36.31%.

In other Autoliv news, insider Svante Mogefors sold 1,524 shares of Autoliv stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $80.69, for a total transaction of $122,971.56. Following the completion of the sale, the insider now directly owns 643 shares in the company, valued at approximately $51,883.67. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Savings Bank acquired a new stake in Autoliv during the 4th quarter valued at approximately $35,000. Kinneret Advisory LLC acquired a new stake in Autoliv during the 4th quarter valued at approximately $71,000. Quantamental Technologies LLC acquired a new position in shares of Autoliv in the 4th quarter valued at $86,000. Mackenzie Financial Corp acquired a new position in shares of Autoliv in the 3rd quarter valued at $209,000. Finally, Advisor Group Inc. lifted its stake in shares of Autoliv by 87.1% in the 4th quarter. Advisor Group Inc. now owns 3,034 shares of the auto parts company’s stock valued at $215,000 after purchasing an additional 1,412 shares during the period. Institutional investors and hedge funds own 34.28% of the company’s stock.

Autoliv Company Profile

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry. The company offers passive safety systems, including 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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