Aptiv (NYSE:APTV) Shares Gap Up Following Better-Than-Expected Earnings

Aptiv PLC (NYSE:APTV)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $61.27, but opened at $65.00. Aptiv shares last traded at $64.72, with a volume of 934,541 shares.

The auto parts company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.12. Aptiv had a net margin of 12.29% and a return on equity of 14.51%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on APTV shares. Hsbc Global Res upgraded Aptiv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Oppenheimer lowered their price objective on Aptiv from $147.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Baird R W upgraded Aptiv from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Piper Sandler upgraded shares of Aptiv from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $65.00 in a research report on Thursday, January 23rd. Finally, Morgan Stanley cut their price objective on shares of Aptiv from $68.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Institutional Investors Weigh In On Aptiv

Institutional investors and hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. increased its position in shares of Aptiv by 1,410.3% in the third quarter. Brown Brothers Harriman & Co. now owns 438 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 409 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in Aptiv by 44.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 505 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 155 shares during the period. Capital Performance Advisors LLP purchased a new position in Aptiv during the 3rd quarter worth approximately $43,000. Brooklyn Investment Group purchased a new stake in shares of Aptiv in the third quarter valued at $43,000. Finally, Mather Group LLC. boosted its position in shares of Aptiv by 36.9% in the third quarter. Mather Group LLC. now owns 653 shares of the auto parts company’s stock worth $47,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Aptiv Stock Up 3.4 %

The firm has a market cap of $14.90 billion, a PE ratio of 7.07, a P/E/G ratio of 0.55 and a beta of 1.74. 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 business has a fifty day moving average price of $59.91 and a two-hundred day moving average price of $64.24.

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.