BorgWarner (BWA) : Traders are bullish on BorgWarner (BWA) as it has outperformed the S&P 500 by a wide margin of 3.21% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.21%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.18% in the last 1 week, and is up 3.6% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
BorgWarner Inc. is up 4.58% in the last 3-month period. Year-to-Date the stock performance stands at -20.24%. The stock has recorded a 20-day Moving Average of 2.26% and the 50-Day Moving Average is 5.88%.
BorgWarner (NYSE:BWA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $33.76 and $33.74 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.21, notching a gain of 0.59% for the day. The total traded volume was 2,085,219 . The stock had closed at $34.01 on the previous day.
Also, Seaport Global initiates coverage on BorgWarner (NYSE:BWA). According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on August 9, 2016.
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.