BorgWarner (BWA) is Downgraded by BofA/Merrill to Neutral

BorgWarner (BWA) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 21, 2016.

Many Wall Street Analysts have commented on BorgWarner. Company shares were Reiterated by RBC Capital Mkts on Apr 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 39 from a previous price target of $33 .BorgWarner was Downgraded by Citigroup to ” Neutral” on Mar 29, 2016.

On the company’s financial health, BorgWarner reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.78. The company had revenue of $2268.60 million for the quarter, compared to analysts expectations of $2233.73 million. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

BorgWarner opened for trading at $34.19 and hit $35.155 on the upside on Monday, eventually ending the session at $34.73, with a gain of 3.73% or 1.25 points. The heightened volatility saw the trading volume jump to 25,76,863 shares. Company has a market cap of $7,558 M.

In a different news, on May 31, 2016, Dennis C Cuneo (director) sold 2,500 shares at $33.53 per share price. According to the SEC, on May 4, 2016, Ronald T Hundzinski (Vice President and CFO) sold 3,721 shares at $35.06 per share price. On Mar 17, 2016, Alexis P Michas (director) sold 10,000 shares at $36.69 per share price, according to the Form-4 filing with the securities and exchange commission.

BorgWarner Inc. is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’ develops and manufactures products in gasoline and diesel engines and alternative powertrains. The Drivetrain segment develops and manufactures products for automatic transmissions and all-wheel drive (AWD) vehicles. The Company manufactures and sells the product across the world to equipment manufacturers (OEMs) of light vehicles. The Company sells the products to other OEMs of commercial vehicles and off-highway vehicles (agricultural and construction machinery and marine applications). It also manufactures and sells its products to Tier One vehicle systems suppliers and into the aftermarket for light commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in the Americas Europe and Asia and is an equipment supplier to automotive OEM.


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