Aptiv (NYSE:APTV) Sets New 52-Week Low on Analyst Downgrade

Shares of Aptiv PLC (NYSE:APTV) hit a new 52-week low during mid-day trading on Friday after Morgan Stanley lowered their price target on the stock from $68.00 to $60.00. Morgan Stanley currently has an underweight rating on the stock. Aptiv traded as low as $52.14 and last traded at $52.27, with a volume of 1650102 shares trading hands. The stock had previously closed at $54.03.

APTV has been the subject of several other reports. Barclays reduced their price objective on Aptiv from $100.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on 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 dropped their price objective on Aptiv from $76.00 to $66.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Wolfe Research initiated coverage on shares of Aptiv in a research note on Thursday, September 5th. They issued an “outperform” rating and a $89.00 target price for the company. Finally, Wells Fargo & Company raised shares of Aptiv from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $87.00 in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Aptiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.53.

Institutional Investors Weigh In On Aptiv

A number of hedge funds have recently made changes to their positions in APTV. M&G Plc bought a new position in Aptiv in the 1st quarter valued at approximately $8,337,000. Swedbank AB bought a new position in shares of Aptiv in the 2nd quarter valued at $25,018,000. Virtu Financial LLC acquired a new stake in shares of Aptiv during the 1st quarter valued at $605,000. Parkside Investments LLC grew its position in Aptiv by 64.4% during the 2nd quarter. Parkside Investments LLC now owns 101,325 shares of the auto parts company’s stock worth $7,135,000 after acquiring an additional 39,685 shares during the last quarter. Finally, Proactive Wealth Strategies LLC acquired a new position in Aptiv in the 3rd quarter worth about $1,815,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Aptiv Stock Down 2.0 %

The firm has a 50-day simple moving average of $66.50 and a 200 day simple moving average of $71.34. The stock has a market capitalization of $12.44 billion, a P/E ratio of 5.91, a P/E/G ratio of 0.50 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.06.

Aptiv (NYSE:APTV) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business earned $1.30 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that Aptiv PLC will post 6.18 EPS for the current year.

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.