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

Aptiv PLC (NYSE:APTV)’s stock price reached 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 traded. The stock had previously closed at $54.03.

A number of other equities analysts also recently commented on APTV. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Aptiv from $76.00 to $66.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company raised shares of Aptiv from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $87.00 in a research note on Friday, September 20th. Royal Bank of Canada reduced their price target on shares of Aptiv from $82.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Nomura Securities raised shares of Aptiv from a “strong sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Aptiv from $107.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Two 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. According to MarketBeat, Aptiv has a consensus rating of “Moderate Buy” and a consensus target price of $86.53.

Hedge Funds Weigh In On Aptiv

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in Aptiv by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,861,135 shares of the auto parts company’s stock valued at $905,681,000 after acquiring an additional 1,764,844 shares during the last quarter. FMR LLC grew its stake in Aptiv by 20.4% in the 3rd quarter. FMR LLC now owns 7,648,369 shares of the auto parts company’s stock valued at $550,759,000 after acquiring an additional 1,294,670 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Aptiv by 13.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,515,074 shares of the auto parts company’s stock valued at $529,212,000 after acquiring an additional 905,431 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Aptiv by 1,390.6% in the 3rd 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 valued at $386,103,000 after acquiring an additional 5,002,090 shares during the last quarter. Finally, Capital World Investors acquired a new stake in Aptiv in the 1st quarter valued at about $343,760,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Aptiv Price Performance

The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 0.50 and a beta of 1.81. The company’s 50 day simple moving average is $66.82 and its 200-day simple moving average is $71.48. The company has a current ratio of 1.50, a quick ratio of 1.06 and a debt-to-equity ratio of 0.91.

Aptiv (NYSE:APTV) last released its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share (EPS) 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 analysts’ expectations of $5.10 billion. During the same period last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that Aptiv PLC will post 6.18 earnings per share for the current fiscal 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.