TD Cowen Initiates Coverage on Aptiv (NYSE:APTV)

Stock analysts at TD Cowen assumed coverage on shares of Aptiv (NYSE:APTV) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $90.00 price target on the auto parts company’s stock. TD Cowen’s price objective would indicate a potential upside of 34.71% from the stock’s previous close.

APTV has been the topic of several other reports. Wells Fargo & Company increased their price objective on Aptiv from $76.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Piper Sandler upgraded Aptiv from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $65.00 in a research note on Thursday, January 23rd. Barclays boosted their price target on Aptiv from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Guggenheim reaffirmed a “buy” rating and set a $73.00 target price on shares of Aptiv in a report on Thursday, December 5th. Finally, Royal Bank of Canada upped their price objective on Aptiv from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Aptiv has a consensus rating of “Moderate Buy” and an average price target of $86.50.

Aptiv Stock Up 2.6 %

APTV stock opened at $66.81 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average of $63.34 and a 200 day moving average of $63.75. Aptiv has a twelve month low of $51.47 and a twelve month high of $85.56. The firm has a market cap of $15.33 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.62 and a beta of 1.78.

Aptiv (NYSE:APTV) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.12. Aptiv had a net margin of 9.07% and a return on equity of 15.63%. On average, research analysts forecast that Aptiv will post 7.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 worth $386,103,000 after acquiring an additional 5,002,090 shares in the last quarter. Harris Associates L P purchased a new stake in shares of Aptiv in the third quarter valued at $162,640,000. Point72 Asset Management L.P. purchased a new position in shares of Aptiv during the 3rd quarter worth about $143,909,000. Norges Bank purchased a new stake in Aptiv in the 4th quarter worth about $106,492,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Aptiv by 1,018.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,690,845 shares of the auto parts company’s stock valued at $102,262,000 after buying an additional 1,539,724 shares during the period. Institutional investors own 94.21% of the company’s stock.

About Aptiv

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.