Guggenheim Has Lowered Expectations for Aptiv (NYSE:APTV) Stock Price

Aptiv (NYSE:APTV) had its target price dropped by equities research analysts at Guggenheim from $87.00 to $73.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the auto parts company’s stock. Guggenheim’s target price would indicate a potential upside of 37.74% from the company’s previous close.

Several other research analysts have also issued reports on APTV. TD Cowen decreased their price target on shares of Aptiv from $95.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company raised Aptiv from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $87.00 in a research report on Friday, September 20th. Wolfe Research began coverage on Aptiv in a report on Thursday, September 5th. They issued an “outperform” rating and a $89.00 target price for the company. Bank of America decreased their target price on Aptiv from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Morgan Stanley lowered 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. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.29.

Aptiv Price Performance

Shares of APTV traded up $0.41 during trading hours on Thursday, reaching $53.00. 812,765 shares of the company’s stock traded hands, compared to its average volume of 3,127,977. Aptiv has a 12 month low of $51.47 and a 12 month high of $91.66. The company has a current ratio of 1.50, a quick ratio of 1.06 and a debt-to-equity ratio of 0.91. The stock has a market cap of $12.46 billion, a PE ratio of 5.90, a price-to-earnings-growth ratio of 0.46 and a beta of 1.81. The firm’s 50 day simple moving average is $65.65 and its 200-day simple moving average is $70.85.

Aptiv (NYSE:APTV) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.15. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $5.10 billion. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. Equities analysts expect that Aptiv will post 6.18 EPS for the current year.

Institutional Trading of Aptiv

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Independence Bank of Kentucky purchased a new stake in Aptiv during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC grew its holdings 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 worth $31,000 after buying an additional 215 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Aptiv by 1,410.3% during 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 during the last quarter. Wolff Wiese Magana LLC lifted 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 in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Aptiv in the 2nd quarter valued at $38,000. 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.