Aptiv (NYSE:APTV) Downgraded to Underweight at Piper Sandler

Piper Sandler cut shares of Aptiv (NYSE:APTV) from a neutral rating to an underweight rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has $63.00 target price on the auto parts company’s stock, down from their previous target price of $78.00.

Several other research firms have also recently commented on APTV. Wells Fargo & Company decreased their target price on shares of Aptiv from $83.00 to $82.00 and set an equal weight rating for the company in a research report on Tuesday. StockNews.com upgraded shares of Aptiv from a hold rating to a buy rating in a research report on Wednesday, June 12th. Robert W. Baird upped their target price on shares of Aptiv from $86.00 to $90.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Oppenheimer decreased their price objective on shares of Aptiv from $148.00 to $145.00 and set an outperform rating for the company in a report on Friday, May 3rd. Finally, Guggenheim increased their price objective on shares of Aptiv from $92.00 to $94.00 and gave the company a buy rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $105.08.

Aptiv Price Performance

APTV opened at $67.54 on Wednesday. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 6.37, a price-to-earnings-growth ratio of 0.70 and a beta of 1.87. Aptiv has a fifty-two week low of $65.13 and a fifty-two week high of $113.60. The company’s 50-day moving average price is $77.64 and its 200 day moving average price is $79.91. The company has a quick ratio of 0.89, a current ratio of 1.29 and a debt-to-equity ratio of 0.42.

Aptiv (NYSE:APTV) last released its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.11. Aptiv had a net margin of 14.87% and a return on equity of 13.21%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. Aptiv’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Aptiv will post 6.01 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $30,330.12. Following the completion of the sale, the director now directly owns 13,636 shares in the company, valued at $1,049,699.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Aptiv

Large investors have recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new stake in shares of Aptiv in the 1st quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Aptiv in the 1st quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Aptiv in the 4th quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in shares of Aptiv in the 4th quarter valued at approximately $32,000. Finally, Clearstead Trust LLC lifted its position in shares of Aptiv by 305.0% in the 1st quarter. Clearstead Trust LLC now owns 405 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 305 shares in 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.