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

Wells Fargo & Company upgraded shares of Aptiv (NYSE:APTV) from an equal weight rating to an overweight rating in a report published on Friday morning, Marketbeat Ratings reports. They currently have $87.00 price objective on the auto parts company’s stock, up from their prior price objective of $78.00.

Several other research firms have also recently weighed in on APTV. Oppenheimer reiterated an outperform rating and issued a $145.00 price objective on shares of Aptiv in a report on Tuesday, July 9th. Nomura Securities upgraded shares of Aptiv from a strong sell rating to a hold rating in a report on Monday, August 19th. Royal Bank of Canada raised their target price on shares of Aptiv from $85.00 to $87.00 and gave the stock an outperform rating in a research report on Thursday, September 5th. Evercore ISI reduced their price target on shares of Aptiv from $125.00 to $115.00 and set an outperform rating on the stock in a research report on Monday, July 15th. Finally, Morgan Stanley lowered their price objective on shares of Aptiv from $75.00 to $70.00 and set an underweight rating for the company in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $95.44.

Aptiv Stock Performance

NYSE:APTV opened at $69.84 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.49. Aptiv has a fifty-two week low of $63.62 and a fifty-two week high of $100.88. The business has a 50 day moving average price of $69.54 and a 200-day moving average price of $74.01. The firm has a market cap of $19.00 billion, a PE ratio of 6.58, a price-to-earnings-growth ratio of 0.60 and a beta of 1.79.

Aptiv (NYSE:APTV) last announced its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.30 billion. Aptiv had a net margin of 18.46% and a return on equity of 13.19%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Equities research analysts predict that Aptiv will post 6.28 earnings per share for the current year.

Hedge Funds Weigh In On Aptiv

Several institutional investors and hedge funds have recently modified their holdings of APTV. Riverview Trust Co bought a new stake in Aptiv during the 1st quarter valued at about $25,000. Independence Bank of Kentucky purchased a new position in shares of Aptiv in the second quarter worth $25,000. Hazlett Burt & Watson Inc. bought a new position in shares of Aptiv during the first quarter valued at $28,000. Crewe Advisors LLC boosted its position in shares of Aptiv by 94.7% during the second quarter. Crewe Advisors LLC now owns 442 shares of the auto parts company’s stock valued at $31,000 after buying an additional 215 shares during the last quarter. Finally, Clearstead Trust LLC increased its holdings in Aptiv by 305.0% in the 1st quarter. Clearstead Trust LLC now owns 405 shares of the auto parts company’s stock worth $32,000 after buying an additional 305 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

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.