Autoliv, Inc. (NYSE:ALV) Sees Large Increase in Short Interest

Autoliv, Inc. (NYSE:ALV) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,810,000 shares, an increase of 10.6% from the November 30th total of 2,540,000 shares. Based on an average daily volume of 785,400 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALV. StockNews.com cut Autoliv from a “buy” rating to a “hold” rating in a research note on Wednesday, December 25th. Robert W. Baird upped their target price on shares of Autoliv from $103.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $116.00 price objective on shares of Autoliv in a report on Tuesday, September 10th. Wolfe Research initiated coverage on shares of Autoliv in a report on Thursday, September 5th. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, Bank of America decreased their target price on shares of Autoliv from $137.00 to $134.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.46.

Autoliv Price Performance

Autoliv stock traded up $0.81 during mid-day trading on Wednesday, hitting $93.79. The stock had a trading volume of 420,381 shares, compared to its average volume of 698,267. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $96.58 and its 200 day moving average is $98.65. The firm has a market capitalization of $7.39 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.90 and a beta of 1.59. Autoliv has a one year low of $89.51 and a one year high of $129.38.

Autoliv (NYSE:ALV) last released its quarterly earnings data on Friday, October 18th. The auto parts company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.16). The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. Autoliv had a return on equity of 30.85% and a net margin of 5.98%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.66 EPS. On average, sell-side analysts forecast that Autoliv will post 8.19 earnings per share for the current fiscal year.

Autoliv Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 2.99%. This is a boost from Autoliv’s previous quarterly dividend of $0.68. Autoliv’s dividend payout ratio (DPR) is presently 36.46%.

Hedge Funds Weigh In On Autoliv

Several hedge funds have recently modified their holdings of ALV. Quarry LP increased its holdings in shares of Autoliv by 133.5% in the second quarter. Quarry LP now owns 362 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 207 shares during the last quarter. Fred Alger Management LLC purchased a new position in Autoliv during the 3rd quarter valued at approximately $45,000. Benjamin F. Edwards & Company Inc. increased its stake in Autoliv by 14.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 954 shares of the auto parts company’s stock worth $102,000 after acquiring an additional 117 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Autoliv during the 2nd quarter worth approximately $156,000. Finally, Rothschild Investment LLC bought a new position in shares of Autoliv during the 2nd quarter valued at approximately $209,000. Hedge funds and other institutional investors own 69.57% of the company’s stock.

About Autoliv

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies passive safety systems to the automotive industry in Europe, the Americas, China, Japan, and rest of Asia. It offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and inflator technologies.