Aptiv (NYSE:APTV) Price Target Cut to $83.00 by Analysts at Oppenheimer

Aptiv (NYSE:APTV) had its price objective lowered by Oppenheimer from $147.00 to $83.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the auto parts company’s stock. Oppenheimer’s price objective suggests a potential upside of 46.10% from the company’s previous close.

Other equities analysts have also issued reports about the company. Bank of America reduced their price objective on Aptiv from $105.00 to $102.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wolfe Research initiated coverage on Aptiv in a report on Thursday, September 5th. They set an “outperform” rating and a $89.00 price objective for the company. Robert W. Baird reduced their price objective on Aptiv from $85.00 to $65.00 and set a “neutral” rating for the company in a report on Friday. Evercore ISI reduced their price objective on Aptiv from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 15th. Finally, Royal Bank of Canada reduced their price objective on Aptiv from $82.00 to $72.00 and set an “outperform” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.06.

Aptiv Stock Performance

Shares of APTV traded down $0.02 on Friday, reaching $56.81. 3,386,136 shares of the company’s stock traded hands, compared to its average volume of 3,028,819. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.10 billion, a PE ratio of 4.29, a PEG ratio of 0.63 and a beta of 1.79. The stock’s 50 day simple moving average is $69.89 and its two-hundred day simple moving average is $72.52. Aptiv has a 52-week low of $54.70 and a 52-week high of $91.66.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.14. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $5.10 billion. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. Aptiv’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share. On average, analysts forecast that Aptiv will post 6.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aptiv

Several large investors have recently added to or reduced their stakes in APTV. Equitable Trust Co. raised its position in Aptiv by 11.1% during the third quarter. Equitable Trust Co. now owns 17,392 shares of the auto parts company’s stock valued at $1,252,000 after purchasing an additional 1,734 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Aptiv during the third quarter valued at about $43,000. Palmer Knight Co raised its position in Aptiv by 0.6% during the third quarter. Palmer Knight Co now owns 52,133 shares of the auto parts company’s stock valued at $3,754,000 after purchasing an additional 297 shares in the last quarter. JB Capital LLC raised its position in Aptiv by 5.2% during the third quarter. JB Capital LLC now owns 39,532 shares of the auto parts company’s stock valued at $2,847,000 after purchasing an additional 1,959 shares in the last quarter. Finally, Olstein Capital Management L.P. raised its position in Aptiv by 32.9% during the third quarter. Olstein Capital Management L.P. now owns 109,000 shares of the auto parts company’s stock valued at $7,849,000 after purchasing an additional 27,000 shares in the last quarter. 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.