Aptiv (NYSE:APTV) Lifted to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Aptiv (NYSE:APTV) from an equal weight rating to an overweight rating in a report issued on Friday morning, Marketbeat reports. The firm currently has $87.00 price objective on the auto parts company’s stock, up from their previous price objective of $78.00.

A number of other equities research analysts have also recently commented on the company. Piper Sandler cut Aptiv from a neutral rating to an underweight rating and lowered their target price for the stock from $78.00 to $63.00 in a research note on Wednesday, June 26th. Oppenheimer reissued an outperform rating and set a $145.00 target price on shares of Aptiv in a research report on Tuesday, July 9th. Wolfe Research initiated coverage on shares of Aptiv in a report on Thursday, September 5th. They issued an outperform rating and a $89.00 price target on the stock. Nomura Securities upgraded shares of Aptiv from a strong sell rating to a hold rating in a research note on Monday, August 19th. Finally, The Goldman Sachs Group dropped their price target on shares of Aptiv from $118.00 to $101.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Aptiv presently has an average rating of Moderate Buy and a consensus price target of $95.44.

Aptiv Stock Performance

NYSE APTV opened at $71.54 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $69.52 and a 200 day simple moving average of $73.96. Aptiv has a 12-month low of $63.62 and a 12-month high of $100.88. The company has a market cap of $19.46 billion, a P/E ratio of 6.74, a PEG ratio of 0.60 and a beta of 1.79.

Aptiv (NYSE:APTV) last posted its earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The company had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts predict that Aptiv will post 6.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of APTV. Capital World Investors bought a new position in Aptiv during the 1st quarter worth approximately $343,760,000. EdgePoint Investment Group Inc. bought a new position in shares of Aptiv in the first quarter worth approximately $335,426,000. Massachusetts Financial Services Co. MA raised its holdings in Aptiv by 15.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,861,135 shares of the auto parts company’s stock valued at $905,681,000 after buying an additional 1,764,844 shares during the last quarter. Ariel Investments LLC purchased a new stake in Aptiv during the 1st quarter valued at $85,880,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Aptiv by 13.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,515,074 shares of the auto parts company’s stock worth $529,212,000 after acquiring an additional 905,431 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Aptiv Company Profile

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.