Autoliv, Inc. (NYSE:ALV) Shares Gap Down After Earnings Miss

Shares of Autoliv, Inc. (NYSE:ALV) gapped down before the market opened on Monday following a weaker than expected earnings announcement. The stock had previously closed at $106.03, but opened at $106.78. Autoliv shares last traded at $107.43, with a volume of 525,411 shares trading hands.

The auto parts company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by $0.04. Autoliv had a net margin of 5.44% and a return on equity of 13.96%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the firm earned $1.75 earnings per share. Autoliv’s revenue for the quarter was down 1.3% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, November 21st. Autoliv’s dividend payout ratio (DPR) is currently 37.97%.

Several analysts have issued reports on ALV shares. Jefferies Group LLC raised shares of Autoliv from a “hold” rating to a “buy” rating and boosted their target price for the company from $108.00 to $119.00 in a research note on Tuesday, May 9th. BidaskClub cut shares of Autoliv from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “hold” rating and set a $98.00 price target on shares of Autoliv in a report on Thursday, July 6th. Bank of America Corporation lowered their price target on shares of Autoliv from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Finally, CLSA began coverage on shares of Autoliv in a report on Thursday, June 22nd. They set a “hold” rating and a $102.00 price target on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Autoliv presently has a consensus rating of “Hold” and a consensus target price of $105.32.

In other Autoliv news, Director Robert W. Alspaugh sold 1,156 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $109.87, for a total transaction of $127,009.72. Following the completion of the sale, the director now directly owns 3,800 shares in the company, valued at $417,506. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas Jonsson sold 1,240 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $108.55, for a total transaction of $134,602.00. Following the sale, the vice president now owns 2,311 shares of the company’s stock, valued at $250,859.05. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Autoliv by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,114 shares of the auto parts company’s stock worth $1,341,000 after buying an additional 84 shares during the period. Canada Pension Plan Investment Board boosted its stake in Autoliv by 356.7% in the first quarter. Canada Pension Plan Investment Board now owns 23,398 shares of the auto parts company’s stock worth $2,393,000 after buying an additional 18,275 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Autoliv by 10.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,059 shares of the auto parts company’s stock worth $824,000 after buying an additional 764 shares during the period. Reynders McVeigh Capital Management LLC boosted its stake in Autoliv by 25.6% in the first quarter. Reynders McVeigh Capital Management LLC now owns 9,541 shares of the auto parts company’s stock worth $976,000 after buying an additional 1,947 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Autoliv by 10.3% in the first quarter. Russell Investments Group Ltd. now owns 10,754 shares of the auto parts company’s stock worth $1,100,000 after buying an additional 1,007 shares during the period. Institutional investors own 35.37% of the company’s stock.

The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 16.66 and a beta of 1.13. The company’s 50-day moving average price is $110.82 and its 200 day moving average price is $106.37.

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Autoliv Company Profile

Autoliv, Inc is a supplier of automotive safety systems with a range of product offerings, including passive safety systems and active safety systems. The Company operates through two segments: Passive Safety and Electronics. The Passive safety products include modules and components for passenger and driver-side airbags, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, whiplash protection systems and child seats, and components for such systems, as well as passive safety electronic products, such as restraint electronics and crash sensors.

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