Aptiv (NYSE:APTV) Given New $60.00 Price Target at Morgan Stanley

Aptiv (NYSE:APTV) had its price target cut by Morgan Stanley from $68.00 to $60.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an underweight rating on the auto parts company’s stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company upgraded shares of Aptiv from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $87.00 in a research note on Friday, September 20th. Robert W. Baird decreased their price objective on shares of Aptiv from $85.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada decreased their price objective on shares of Aptiv from $82.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Aptiv from $76.00 to $66.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Aptiv from $107.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Aptiv has an average rating of “Moderate Buy” and an average target price of $86.53.

Aptiv Stock Performance

NYSE:APTV traded down $0.93 during trading hours on Thursday, hitting $53.10. 4,351,698 shares of the company were exchanged, compared to its average volume of 3,111,709. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 0.50 and a beta of 1.81. Aptiv has a 52-week low of $52.14 and a 52-week high of $91.66. 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 company’s 50 day moving average price is $66.82 and its 200-day moving average price is $71.48.

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, topping the consensus estimate of $1.68 by $0.15. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the firm earned $1.30 EPS. Aptiv’s revenue was down 5.1% compared to the same quarter last year. As a group, research analysts forecast that Aptiv will post 6.18 earnings per share for the current year.

Institutional Investors Weigh In On Aptiv

A number of large investors have recently modified their holdings of APTV. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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. Capital World Investors purchased a new stake in shares of Aptiv during the first quarter worth $343,760,000. EdgePoint Investment Group Inc. purchased a new stake in shares of Aptiv during the first quarter worth $335,426,000. Harris Associates L P purchased a new stake in shares of Aptiv during the third quarter worth $162,640,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Aptiv during the third quarter worth $143,909,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

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.