Zacks Research Upgrades Aptiv (NYSE:APTV) to “Hold”

Aptiv (NYSE:APTV) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

A number of other equities analysts have also recently weighed in on the company. Argus set a $64.00 price target on Aptiv in a report on Thursday, August 13th. Fox Advisors lowered Aptiv from an “overweight” rating to an “equal weight” rating in a report on Wednesday, August 5th. UBS Group cut their price objective on Aptiv from $62.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Morgan Stanley reduced their target price on Aptiv from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Evercore reiterated an “outperform” rating and set a $70.00 target price on shares of Aptiv in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.02.

Aptiv Stock Performance

APTV stock traded down $1.37 during midday trading on Thursday, hitting $39.48. 4,079,917 shares of the stock traded hands, compared to its average volume of 2,583,068. The firm has a market cap of $8.20 billion, a P/E ratio of 10.88, a PEG ratio of 0.86 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.33. The stock’s fifty day simple moving average is $44.13 and its 200-day simple moving average is $58.97. Aptiv has a 1-year low of $39.40 and a 1-year high of $88.93.

Aptiv (NYSE:APTV) last released its quarterly earnings data on Tuesday, November 3rd. The auto parts company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Aptiv had a net margin of 1.17% and a return on equity of 17.10%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.17 earnings per share. On average, analysts expect that Aptiv will post 5.65 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Provenance Wealth Advisors LLC increased its stake in Aptiv by 9,171.4% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 649 shares of the auto parts company’s stock worth $28,000 after buying an additional 642 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Aptiv in the second quarter valued at approximately $29,000. Covestor Ltd lifted its position in shares of Aptiv by 175.5% in the third quarter. Covestor Ltd now owns 719 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 458 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Aptiv in the third quarter worth approximately $32,000. Finally, Eastern Bank boosted its stake in shares of Aptiv by 702.9% in the second quarter. Eastern Bank now owns 546 shares of the auto parts company’s stock worth $34,000 after acquiring an additional 478 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Aptiv News Roundup

Here are the key news stories impacting Aptiv this week:

• Positive Sentiment: Aptiv said it is accelerating its robotics expansion with industry partners, a potential opportunity to broaden growth beyond its core automotive business. Aptiv: Accelerates Robotics Expansion With Industry Partners
• Positive Sentiment: Citigroup lowered its price target to $68 from $77 but maintained a Buy rating; the new target implies 72.2% upside from the cited share price. This signals continued optimism, although the reduced target reflects a more cautious valuation. Citigroup stock recommendations
• Neutral Sentiment: Wall Street analysts are described as moderately optimistic despite Aptiv’s substantial underperformance versus the broader market over the past year. Are Wall Street Analysts Predicting Aptiv Stock Will Climb or Sink?
• Negative Sentiment: Several firms lowered their price targets, including Goldman Sachs, which cut its target to $54, and TD Cowen, which reduced its target to $72. Morgan Stanley and RBC also lowered targets, adding to the cautious tone around valuation. Goldman Sachs lowers Aptiv price target TD Cowen cuts Aptiv price target Morgan Stanley lowers Aptiv price target RBC lowers Aptiv price target

Aptiv Company Profile

Aptiv PLC (NYSE: APTV) is a global automotive technology company that develops systems and software intended to make vehicles safer, more connected and increasingly automated. Its solutions are used by automakers in passenger vehicles and commercial vehicles worldwide.

The company’s product portfolio includes advanced driver-assistance and active-safety systems, vehicle computing platforms, infotainment and connectivity technologies, automated-driving solutions, and electrical and electronic distribution systems.