Aptiv (NYSE:APTV) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Aptiv (NYSE:APTV) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks reports.

Other equities analysts have also recently issued research reports about the stock. Citigroup lowered their target price on shares of Aptiv from $77.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group reduced their price target on shares of Aptiv from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. BNP Paribas Exane reissued an “outperform” rating and set a $59.00 price objective (down from $63.00) on shares of Aptiv in a report on Wednesday. HSBC downgraded shares of Aptiv from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, Benchmark upgraded shares of Aptiv to a “strong-buy” rating in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Aptiv has a consensus rating of “Moderate Buy” and an average target price of $69.02.

Aptiv Stock Down 3.4%

APTV traded down $1.37 during trading on Thursday, hitting $39.48. 4,079,917 shares of the company’s stock traded hands, compared to its average volume of 2,583,068. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 0.86 and a beta of 1.43. The company’s 50 day simple moving average is $44.13 and its two-hundred day simple moving average is $58.97. Aptiv has a 12-month low of $39.40 and a 12-month high of $88.93. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.61.

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

Institutional Investors Weigh In On Aptiv

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Aptiv in the 2nd quarter worth approximately $61,065,000. Cooper Creek Partners Management LLC purchased a new stake in Aptiv during the first quarter valued at approximately $48,166,000. Private Management Group Inc. bought a new position in Aptiv in the third quarter worth approximately $29,294,000. First Trust Advisors LP raised its position in Aptiv by 23.1% in the first quarter. First Trust Advisors LP now owns 2,394,019 shares of the auto parts company’s stock worth $166,241,000 after acquiring an additional 449,145 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Aptiv during the 2nd quarter worth $27,364,000. 94.21% of the stock is currently owned by institutional investors.

More Aptiv News

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

About Aptiv

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.