Autoliv (NYSE:ALV) Receives a Downgrade
BofA Merrill has given Autoliv (NYSE:ALV) shares a new Underperform rating in a very recent research note revealed to clients and investors on Thursday morning. This was a ratings downgrade from the earlier Neutral rating.
From a total of 22 analysts covering Autoliv Inc (NYSE:ALV) stock, 6 rate it a ”Buy”, 5 a “Sell”, and 12 a ”Hold”. This means that 26% of the ratings are positive. The highest target price is $140 while the lowest target price is $75. The mean of all analyst targets is $117.35 with a -16.03% below today’s ($125.15) stock price. Autoliv Inc was the topic of 23 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on December 9 with “Sector Perform” rating. Bank of America downgraded shares to “Neutral” rating and $23 target share price in a report from a July 22. Goldman Sachs upgraded ALV stock in a recent report from September 29 to “Neutral” rating. Finally, Pareto Securities downgraded the stock to “Sell” rating in a report issued on a September 2.
Approximately 495,786 shares of stock traded hands or 14.06% up from the average. Autoliv Inc. (NYSE:ALV) has risen 7.60% since May 7, 2015 and is uptrending. It has outperformed by 9.54% the S&P500.
The overall sentiment of institutions has decreased to 0.92 in Q2 2015. Its down 0.15, from 1.07 in 2015Q2. The ratio turned negative, as 30 institutions have sold all the shares of Autoliv Inc. that they owned while 81 funds have taken shares off the table. 18 funds have purchased shares for the first time while 84 added to their positions. These institutions now hold 41.26 million shares or 31.43% more than the 31.39 million shares they owned in 2015Q2.
The Fund Alecta Pensionsforsakring Omsesidigt currently is holding shares equating to 11.04% of its total portfolio in Autoliv Inc. representing a total of 8.46 million shares. Another fund,Beddow Capital Management Inc, is holding a total of 110,546 shares equating to 5.04% of their holdings. Additionally, Prentiss Smith & Co Inc has a 42,386 share stake in Autoliv Inc. which represents 2.56% of their total portfolio. The Fund, Apex Capital Management, based out of Ohio, has also built up a stake in the stock, which represents a total of 1.68% of their total portfolio. Finally Matterhorn Capital Management Llc, a fund which is based in the state of Texas reported a total holdings of 26,592 shares.
Autoliv, Inc. is a developer, manufacturer and supplier of automotive safety systems to the automotive industry. The company has a market cap of $11.05 billion. The Company’s range of product offerings includes passive safety systems and active safety systems. It has 26.53 P/E ratio. Passive safety systems are primarily meant to improve vehicle safety, and include modules and components for passenger and driver-side airbags, side-impact airbag protection systems, seatbelts, steering wheels, passive safety electronics, whiplash protection systems and child seats, and components for such systems.
According to Zacks Investment Research, “Autoliv Inc. is a worldwide leader in automotive safety, a pioneer in both seatbelts and airbags, and a technology leader with the widest product offering for automotive safety. All the leading automobile manufacturers in the world are our customers.” Get a free copy of the Zacks research report on Autoliv Inc. (ALV).