Autoliv Inc. (NYSE:ALV) Short Interest Down 12.3% in August

Autoliv Inc. (NYSE:ALV) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,210,000 shares, a drop of 12.3% from the August 15th total of 1,380,000 shares. Based on an average daily trading volume, of 477,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.4% of the company’s shares are sold short.

Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its stake in shares of Autoliv by 377.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 387 shares of the auto parts company’s stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Autoliv in the first quarter worth $52,000. Tower Research Capital LLC TRC raised its stake in shares of Autoliv by 22.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,634 shares of the auto parts company’s stock worth $75,000 after purchasing an additional 298 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Autoliv by 265.4% in the second quarter. Macquarie Group Ltd. now owns 2,605 shares of the auto parts company’s stock worth $168,000 after purchasing an additional 1,892 shares during the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in Autoliv during the first quarter valued at $185,000. Hedge funds and other institutional investors own 37.32% of the company’s stock.

Shares of ALV stock traded down $1.51 during mid-day trading on Friday, hitting $73.15. The company’s stock had a trading volume of 926,918 shares, compared to its average volume of 625,735. Autoliv has a 52-week low of $38.16 and a 52-week high of $87.01. The business has a 50-day moving average price of $73.31 and a 200 day moving average price of $63.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.22 and a current ratio of 1.57. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 45.15 and a beta of 1.90.

Autoliv (NYSE:ALV) last posted its quarterly earnings results on Friday, July 17th. The auto parts company reported ($1.40) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.01. Autoliv had a return on equity of 11.26% and a net margin of 1.98%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. The company’s revenue was down 51.4% on a year-over-year basis. Equities research analysts predict that Autoliv will post 2.24 EPS for the current fiscal year.

A number of brokerages have recently weighed in on ALV. Wolfe Research lowered Autoliv from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 28th. Royal Bank of Canada reiterated a “buy” rating and issued a $80.00 price objective (up from $77.00) on shares of Autoliv in a research report on Monday, July 20th. Goldman Sachs Group started coverage on Autoliv in a research report on Thursday, July 9th. They issued a “buy” rating and a $81.00 price objective on the stock. Zacks Investment Research upgraded Autoliv from a “sell” rating to a “hold” rating and set a $69.00 price target on the stock in a research report on Wednesday, May 27th. Finally, Kepler Capital Markets lowered Autoliv from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $67.20.

About Autoliv

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry. The company offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, battery cable cutters, pedestrian protection systems, and child seats.

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