Autoliv (NYSE:ALV) Receives Upgrade from Hold to Buy Rating by StockNews.com
In exciting market news, automotive safety systems provider Autoliv has received an upgrade from a “hold” rating to a “buy” rating, according to a report released by equities research analysts at StockNews.com on Friday. This comes after the company reported its earnings results for 2021’s first quarter.
The auto parts company exceeded expectations by posting $0.90 earnings per share (EPS), outdoing the forecasted $0.81 EPS by $0.09. Despite earlier expectations of only $2.32 billion, Autoliv also brought in $2.49 billion in revenue for the quarter, seeing a rise of 17.4% from the previous year.
It’s no surprise that Autoliv is being recognized with such praise; this firm is committed to developing and producing safety systems specifically designed for facilitating passive safety measures within vehicles that we drive daily. These include passenger and driver airbags, anti-whiplash systems, seatbelts, curtain airbags, side airbags, and steering wheels amongst others.
Autoliv is passionate about ensuring road users are as safe as possible and are working hard to make sure their products are not just practical but also reliable.
Understandably then, these recent financial accolades coupled with the essential role this company plays make it clear why investors should consider buying into Autoliv Inc.’s shares while they’re still on offer.
With sell-side analysts forecasting impressive earnings per share figures due soon, those interested in getting in on this venture have little reason not to rush towards ensuring their slice of the proverbial pie before it sells out quickly as predicted.
All things considered; Autoliv remains one of the most trusted names in ensuring vehicular safety worldwide. From its initial development stages right through to final production–its stringent quality control measures have earned it its trade reputation. The automotive industry awaits with bated breath to see precisely how much Autoliv could change the sector as a whole for the better, and if recent reports are any indication; they won’t have to wait long to find out.
Mixed Reviews for Autoliv Inc.
Autoliv Inc., a leading automotive safety systems manufacturer, has seen mixed reviews from various analysts recently. While Bank of America issued a “buy” rating and gave the company a target price of $130.00 on February 21st, Nordea Equity Research downgraded Autoliv from “buy” to “sell” rating on January 31st. Citigroup followed by decreasing their target price for the stock from $97.00 to $93.00 in a research report on April 24th, and Deutsche Bank Aktiengesellschaft followed suit by lowering their target price from $113.00 to $110.00 that same day. Robert W. Baird also decreased their target price down to $99.00 on April 24th.
According to data from Bloomberg.com, Autoliv’s consensus rating is now “hold,” with one analyst having given the stock a sell rating, nine giving hold ratings, and seven giving buy ratings, with a consensus price target of $98.77.
Despite mixed analyst opinions and reports of insiders selling shares – Director Jan Carlson sold 2,614 shares of the firm’s stock on May 12th and insider Fredrik Westin sold 1,505 shares in March – institutional investors have been bullish on Autoliv lately.
BlackRock Inc., for example, now owns over five million shares of ALV worth more than half a billion dollars after buying an additional 3,575,146 shares during the last quarter.
While reports show that shares opened at $81.69 on Friday for NYSE ALV – which is lower than expected – Autoliv remains committed to manufacturing automobile safety systems around the world including driver airbags and seatbelts among others products to minimize fatalities related to road mishaps.
From these reports it can be said that despite some lukewarm reception from certain analysts, Autoliv seems poised for future growth thanks to its popularity with institutional investors which exuded confidence in the company.
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