Wells Fargo & Company Forecasts Strong Price Appreciation for Aptiv (NYSE:APTV) Stock

Aptiv (NYSE:APTV) had its target price boosted by analysts at Wells Fargo & Company from $70.00 to $76.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 19.87% from the stock’s previous close.

APTV has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price on shares of Aptiv from $107.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Aptiv from $76.00 to $66.00 and set a “hold” rating for the company in a report on Friday, November 1st. Morgan Stanley lowered their price objective on shares of Aptiv from $68.00 to $60.00 and set an “underweight” rating for the company in a report on Thursday, November 14th. Royal Bank of Canada lowered their price objective on shares of Aptiv from $82.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Fox Advisors lowered shares of Aptiv from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.06.

Aptiv Trading Down 0.8 %

Shares of Aptiv stock opened at $63.40 on Thursday. Aptiv has a 1 year low of $51.47 and a 1 year high of $88.89. The firm has a market cap of $14.90 billion, a PE ratio of 7.08, a PEG ratio of 0.56 and a beta of 1.75. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.06. The company has a 50 day simple moving average of $58.39 and a two-hundred day simple moving average of $64.84.

Aptiv (NYSE:APTV) last announced its earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.15. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the business posted $1.30 earnings per share. Aptiv’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts expect that Aptiv will post 6.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Aptiv by 20.4% during the 3rd quarter. FMR LLC now owns 7,648,369 shares of the auto parts company’s stock valued at $550,759,000 after purchasing an additional 1,294,670 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Aptiv by 1,390.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,361,795 shares of the auto parts company’s stock valued at $386,103,000 after purchasing an additional 5,002,090 shares during the period. Franklin Resources Inc. increased its position in Aptiv by 29.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,738,514 shares of the auto parts company’s stock valued at $336,861,000 after purchasing an additional 1,090,766 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Aptiv by 18.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,488,395 shares of the auto parts company’s stock valued at $179,189,000 after purchasing an additional 388,045 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Aptiv by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,386,232 shares of the auto parts company’s stock valued at $171,833,000 after purchasing an additional 108,626 shares during the period. 94.21% of the stock is owned by hedge funds and other 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.