BorgWarner (NYSE:BWA) Given New $36.00 Price Target at Piper Sandler

BorgWarner (NYSE:BWA - Get Free Report) had its price target dropped by equities researchers at Piper Sandler from $43.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the auto parts company's stock. Piper Sandler's target price suggests a potential upside of 22.18% from the company's current price.

Several other equities research analysts have also issued reports on the stock. Guggenheim set a $38.00 price target on shares of BorgWarner in a report on Wednesday, March 5th. Evercore ISI decreased their target price on shares of BorgWarner from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Cowen downgraded shares of BorgWarner from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. StockNews.com downgraded BorgWarner from a "buy" rating to a "hold" rating in a report on Friday, March 14th. Finally, BNP Paribas raised BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 target price for the company in a report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, BorgWarner presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.06.

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BorgWarner Price Performance

Shares of NYSE BWA traded up $0.77 during mid-day trading on Thursday, reaching $29.47. The company had a trading volume of 3,191,806 shares, compared to its average volume of 2,646,405. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 0.77 and a beta of 1.21. The business's 50-day simple moving average is $30.31 and its 200 day simple moving average is $32.51. BorgWarner has a one year low of $27.65 and a one year high of $38.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79.

BorgWarner (NYSE:BWA - Get Free Report) last issued its earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. On average, research analysts predict that BorgWarner will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BorgWarner news, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the transaction, the executive vice president now owns 39,110 shares of the company's stock, valued at $1,125,976.90. This trade represents a 38.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tonit M. Calaway sold 8,300 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.07, for a total value of $249,581.00. Following the completion of the transaction, the chief accounting officer now directly owns 242,257 shares of the company's stock, valued at approximately $7,284,667.99. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,800 shares of company stock valued at $1,347,701 in the last three months. 0.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BorgWarner

A number of hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in BorgWarner during the third quarter valued at about $32,000. LRI Investments LLC increased its stake in shares of BorgWarner by 1,515.0% during the 4th quarter. LRI Investments LLC now owns 969 shares of the auto parts company's stock worth $31,000 after purchasing an additional 909 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of BorgWarner in the 3rd quarter worth approximately $38,000. Resona Asset Management Co. Ltd. purchased a new position in BorgWarner in the fourth quarter valued at approximately $45,000. Finally, Avior Wealth Management LLC grew its holdings in BorgWarner by 31.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company's stock valued at $46,000 after purchasing an additional 342 shares during the period. 95.67% of the stock is currently owned by institutional investors.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.