Aptiv (NYSE:APTV) Hits New 12-Month Low After Analyst Downgrade

Shares of Aptiv PLC (NYSE:APTV) hit a new 52-week low 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. The stock had previously closed at $54.03.

Several other research analysts have also commented on the stock. Wolfe Research initiated coverage on shares of Aptiv in a report on Thursday, September 5th. They issued an “outperform” rating and a $89.00 price target on the stock. Robert W. Baird cut their price target on shares of Aptiv from $85.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company raised shares of Aptiv from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $87.00 in a research report on Friday, September 20th. Bank of America lowered their price objective on shares of Aptiv from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Fox Advisors downgraded shares of Aptiv from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.53.

Institutional Investors Weigh In On Aptiv

Hedge funds have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new stake in shares of Aptiv during the second quarter valued at about $25,000. Crewe Advisors LLC raised its stake 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 purchasing an additional 215 shares in the last quarter. Clearstead Trust LLC raised its stake in shares of Aptiv by 305.0% during the first quarter. Clearstead Trust LLC now owns 405 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 305 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Aptiv by 1,410.3% during the third quarter. Brown Brothers Harriman & Co. now owns 438 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 409 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in shares of Aptiv by 44.3% during the third quarter. Wolff Wiese Magana LLC now owns 505 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 155 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Aptiv Trading Down 2.9 %

The business’s 50 day moving average is $66.82 and its two-hundred day moving average is $71.48. 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 firm has a market capitalization of $12.33 billion, a P/E ratio of 6.01, a PEG ratio of 0.50 and a beta of 1.81.

Aptiv (NYSE:APTV) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. Analysts expect 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.