Aptiv (NYSE:APTV) Shares Gap Up on Strong Earnings

Aptiv PLC (NYSE:APTV) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $61.27, but opened at $65.00. Aptiv shares last traded at $64.72, with a volume of 934,541 shares trading hands.

The auto parts company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.12. Aptiv had a return on equity of 14.51% and a net margin of 12.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on APTV shares. Barclays decreased their price objective on shares of Aptiv from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. HSBC upgraded Aptiv from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $77.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on Aptiv from $76.00 to $66.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Guggenheim reaffirmed a “buy” rating and set a $73.00 target price on shares of Aptiv in a research note on Thursday, December 5th. Finally, Robert W. Baird upgraded shares of Aptiv from a “neutral” rating to an “outperform” rating and increased their target price for the company from $75.00 to $82.00 in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Investors Weigh In On Aptiv

Several institutional investors and hedge funds have recently modified their holdings of the company. Wolff Wiese Magana LLC raised its stake in shares of Aptiv by 44.3% in the third quarter. Wolff Wiese Magana LLC now owns 505 shares of the auto parts company’s stock valued at $36,000 after acquiring an additional 155 shares in the last quarter. Mather Group LLC. raised its holdings in Aptiv by 36.9% in the third quarter. Mather Group LLC. now owns 653 shares of the auto parts company’s stock valued at $47,000 after acquiring an additional 176 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Aptiv by 16.8% in the third quarter. Farther Finance Advisors LLC now owns 1,225 shares of the auto parts company’s stock worth $88,000 after acquiring an additional 176 shares during the last quarter. Boston Common Asset Management LLC grew its holdings in Aptiv by 4.8% during the 4th quarter. Boston Common Asset Management LLC now owns 4,110 shares of the auto parts company’s stock worth $249,000 after acquiring an additional 188 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Aptiv by 4.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,632 shares of the auto parts company’s stock valued at $334,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Aptiv Price Performance

The company has a market capitalization of $15.14 billion, a PE ratio of 7.16, a P/E/G ratio of 0.55 and a beta of 1.74. The company has a current ratio of 1.50, a quick ratio of 1.06 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $59.91 and a 200-day simple moving average of $64.24.

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.