In a report released today, Noah Kaye from Oppenheimer assigned a Buy rating to BorgWarner (BWA), with a price target of $56.00. The company’s shares closed last Wednesday at $53.25, close to its 52-week high of $54.21.
According to TipRanks.com, Kaye is a 5-star analyst with an average return of 17.9% and a 67.4% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, Johnson Controls, and Dana Holding.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BorgWarner with a $54.58 average price target, a -1.2% downside from current levels. In a report issued on May 21, Merrill Lynch also maintained a Buy rating on the stock with a $65.00 price target.
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Based on BorgWarner’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.01 billion and net profit of $65 million. In comparison, last year the company earned revenue of $2.28 billion and had a net profit of $129 million.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BWA in relation to earlier this year.
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BorgWarner, Inc. engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Engine and Drivetrain. The Engine segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance. The Drivetrain segment focuses in the products that improve fuel economy, reduce emissions, and enhance performance in combustion, hybrid and electric vehicles. The company was founded in 1928 and is headquartered in Auburn Hills, MI.