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

Aptiv (NYSE:APTV) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Friday, FinViz reports. The brokerage presently has a $87.00 price target on the auto parts company’s stock, up from their previous price target of $78.00. Wells Fargo & Company‘s target price suggests a potential upside of 23.37% from the stock’s previous close.

Several other brokerages also recently commented on APTV. Oppenheimer reissued an “outperform” rating and issued a $145.00 target price on shares of Aptiv in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $74.00 target price on shares of Aptiv in a report on Tuesday, September 10th. Citigroup reduced their price objective on Aptiv from $128.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Piper Sandler downgraded Aptiv from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $78.00 to $63.00 in a report on Wednesday, June 26th. Finally, Barclays reduced their price objective on Aptiv from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.44.

Aptiv Stock Up 1.2 %

NYSE APTV opened at $70.52 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 stock’s 50 day moving average is $69.60 and its two-hundred day moving average is $74.14. The company has a market capitalization of $19.19 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 0.60 and a beta of 1.79. Aptiv has a 1-year low of $63.62 and a 1-year high of $104.72.

Aptiv (NYSE:APTV) last released its quarterly earnings data 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. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Equities analysts forecast that Aptiv will post 6.28 earnings per share for the current fiscal year.

Institutional Trading of Aptiv

Several hedge funds have recently added to or reduced their stakes in the business. Broderick Brian C raised its stake in Aptiv by 0.6% during the 1st quarter. Broderick Brian C now owns 21,728 shares of the auto parts company’s stock worth $1,731,000 after buying an additional 132 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Aptiv by 11.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,444 shares of the auto parts company’s stock valued at $130,000 after purchasing an additional 146 shares during the period. Signaturefd LLC raised its stake in shares of Aptiv by 6.2% in the 2nd quarter. Signaturefd LLC now owns 2,682 shares of the auto parts company’s stock valued at $189,000 after purchasing an additional 156 shares during the period. Lindbrook Capital LLC raised its stake in shares of Aptiv by 27.3% in the 1st quarter. Lindbrook Capital LLC now owns 812 shares of the auto parts company’s stock valued at $65,000 after purchasing an additional 174 shares during the period. Finally, Advisory Services Network LLC raised its stake in shares of Aptiv by 1.2% in the 4th quarter. Advisory Services Network LLC now owns 14,892 shares of the auto parts company’s stock valued at $1,336,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.