Aptiv (NYSE:APTV) Price Target Cut to $85.00

Aptiv (NYSE:APTV) had its price target decreased by Royal Bank of Canada from $86.00 to $85.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the auto parts company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 26.41% from the stock’s previous close.

Several other research analysts have also commented on the stock. Guggenheim raised their price objective on shares of Aptiv from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird decreased their price target on shares of Aptiv from $90.00 to $83.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. UBS Group dropped their price objective on shares of Aptiv from $107.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company dropped their price target on shares of Aptiv from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $145.00 target price on shares of Aptiv in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.64.

Aptiv Price Performance

Aptiv stock traded down $0.73 during trading on Wednesday, reaching $67.24. The company had a trading volume of 621,999 shares, compared to its average volume of 2,932,605. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.49. Aptiv has a 1-year low of $65.13 and a 1-year high of $104.72. The firm has a market capitalization of $18.29 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 0.66 and a beta of 1.79. The firm’s 50-day simple moving average is $71.31 and its 200 day simple moving average is $76.15.

Aptiv (NYSE:APTV) last announced its quarterly earnings data on Thursday, August 1st. The auto parts company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Aptiv had a net margin of 18.46% and a return on equity of 13.19%. The firm had revenue of $5.05 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Aptiv’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Aptiv will post 6.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aptiv news, Director Nancy E. Cooper sold 394 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $76.98, for a total value of $30,330.12. Following the sale, the director now owns 13,636 shares in the company, valued at $1,049,699.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aptiv

Several hedge funds have recently made changes to their positions in APTV. International Assets Investment Management LLC acquired a new position in shares of Aptiv in the 4th quarter valued at $13,120,000. Sequoia Financial Advisors LLC grew its position in Aptiv by 2.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,440 shares of the auto parts company’s stock worth $578,000 after purchasing an additional 145 shares in the last quarter. Cerity Partners LLC lifted its stake in Aptiv by 28.5% in the 4th quarter. Cerity Partners LLC now owns 11,350 shares of the auto parts company’s stock worth $1,018,000 after acquiring an additional 2,516 shares in the last quarter. NewEdge Wealth LLC lifted its position in shares of Aptiv by 151.0% in the fourth quarter. NewEdge Wealth LLC now owns 5,584 shares of the auto parts company’s stock worth $501,000 after purchasing an additional 3,359 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Aptiv during the fourth quarter worth approximately $1,534,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

About Aptiv

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.