Wells Fargo & Company Cuts Aptiv (NYSE:APTV) Price Target to $70.00

Aptiv (NYSE:APTV) had its target price cut by analysts at Wells Fargo & Company from $74.00 to $70.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 20.96% from the company’s current price.

Several other research firms have also issued reports on APTV. TD Cowen dropped their target price on Aptiv from $95.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Aptiv from $107.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Wolfe Research assumed 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Aptiv from $76.00 to $66.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com began coverage on shares of Aptiv in a research report on Friday, December 13th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.29.

Aptiv Price Performance

NYSE APTV opened at $57.87 on Monday. The firm’s 50 day moving average is $60.41 and its 200-day moving average is $67.30. The company has a quick ratio of 1.06, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $13.60 billion, a PE ratio of 6.46, a price-to-earnings-growth ratio of 0.59 and a beta of 1.78. Aptiv has a 12-month low of $51.47 and a 12-month high of $91.66.

Aptiv (NYSE:APTV) last released its earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share 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 the consensus estimate of $5.10 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities research analysts anticipate that Aptiv will post 6.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Aptiv by 1,390.6% during the third 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 buying an additional 5,002,090 shares in the last quarter. Harris Associates L P bought a new position in Aptiv during the third quarter worth about $162,640,000. Point72 Asset Management L.P. acquired a new stake in Aptiv in the 3rd quarter worth about $143,909,000. Massachusetts Financial Services Co. MA boosted its holdings in Aptiv by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,861,135 shares of the auto parts company’s stock valued at $905,681,000 after purchasing an additional 1,764,844 shares during the period. Finally, FMR LLC grew its position in shares of Aptiv by 20.4% during the 3rd quarter. FMR LLC now owns 7,648,369 shares of the auto parts company’s stock worth $550,759,000 after purchasing an additional 1,294,670 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

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.