Zacks Investment Research Lowers Aptiv (APTV) to Sell
According to Zacks, “Costs continue to rise at Aptiv due to significant investments in organic as well as inorganic growth, and litigation. Fluctuation in automotive production and sales continue to weigh on the company’s business performance. Seasonality is another headwind. On the flipside, the company is well poised to gain from secular trends toward connected cars and investments in advanced technology. The company has ramped up investments in advanced technology and collaborations to make the most of the lucrative opportunities offered by the rapidly evolving automotive sector. Acquisitions have been a key growth catalyst for Aptiv. The company has a strong presence in China with a major manufacturing base and healthy customer relationships. Shares of Aptiv have outperformed its industry in the past year.”
APTV has been the topic of several other research reports. Oppenheimer started coverage on Aptiv in a research note on Thursday, March 28th. They set an outperform rating and a $93.00 target price on the stock. Longbow Research restated a buy rating and set a $110.00 price target on shares of Aptiv in a report on Monday, January 28th. Nomura began coverage on Aptiv in a report on Friday, January 25th. They set a neutral rating and a $68.00 price target on the stock. Royal Bank of Canada upped their price target on Aptiv to $88.00 and gave the stock an outperform rating in a report on Friday, February 1st. Finally, KeyCorp set a $95.00 price target on Aptiv and gave the stock a buy rating in a report on Saturday, February 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $92.00.
Aptiv (NYSE:APTV) last posted its earnings results on Thursday, January 31st. The auto parts company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.13. Aptiv had a return on equity of 37.39% and a net margin of 7.39%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.53 billion. Equities analysts forecast that Aptiv will post 5.32 earnings per share for the current year.
In other news, SVP Majdi Abulaban sold 25,130 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $80.00, for a total value of $2,010,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP David M. Sherbin sold 19,689 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $86.79, for a total value of $1,708,808.31. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PRW Wealth Management LLC purchased a new position in Aptiv during the 4th quarter worth approximately $28,000. Oregon Public Employees Retirement Fund grew its stake in Aptiv by 3,023.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,974,550 shares of the auto parts company’s stock worth $32,000 after buying an additional 1,911,334 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in Aptiv during the 4th quarter worth approximately $34,000. Resources Investment Advisors Inc. purchased a new position in Aptiv during the 4th quarter worth approximately $34,000. Finally, Enlightenment Research LLC purchased a new position in Aptiv during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 96.61% of the company’s stock.
Aptiv Company Profile
Aptiv PLC, together with its subsidiaries, designs and manufacturers vehicle components, and provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets worldwide. It operates through two segment, Signal and Power Solutions, and Advanced Safety and User Experience.
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