5 Best Auto Parts Stocks to Buy Now

2. Autoliv Inc. (NYSE:ALV)

Number of Hedge Fund Holders: 35

On April 21, Autoliv Inc. (NYSE:ALV) announced earnings for the fiscal first quarter of 2023. The company reported a Non-GAAP EPS of $0.90 and outperformed EPS estimates by $0.02. The company’s revenue for the quarter amounted to $2.49 billion, up 17% year over year and ahead of Wall Street consensus by $170 million. Shares of Autoliv Inc. (NYSE:ALV) have surged 10.20% since the beginning of 2023, as of April 25, and the stock is one of the best auto parts stocks to buy now.

This April, Deutsche Bank updated its price target on Autoliv Inc. (NYSE:ALV) to $110 from $113 and maintained a Buy rating on the shares.

At the end of the fourth quarter of 2022, 35 hedge funds were bullish on Autoliv Inc. (NYSE:ALV) and disclosed positions worth $1 billion in the company. As of December 31, Cevian Capital is the dominant shareholder in the company and has a stake worth $428.3 million.

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