Royal Bank of Canada Issues Pessimistic Forecast for Aptiv (NYSE:APTV) Stock Price

Aptiv (NYSE:APTV) had its target price cut by Royal Bank of Canada from $82.00 to $72.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

APTV has been the subject of several other research reports. Nomura Securities raised Aptiv from a “strong sell” rating to a “hold” rating in a report on Monday, August 19th. Oppenheimer reissued an “outperform” rating and issued a $145.00 price objective on shares of Aptiv in a research report on Tuesday, July 9th. UBS Group dropped their target price on shares of Aptiv from $107.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. StockNews.com initiated coverage on Aptiv in a report on Saturday, October 26th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group dropped their price objective on Aptiv from $118.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Aptiv Price Performance

NYSE APTV opened at $55.93 on Friday. The firm’s 50 day moving average is $69.25 and its 200-day moving average is $72.34. The company has a quick ratio of 1.09, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $14.86 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 0.52 and a beta of 1.81. Aptiv has a 12-month low of $54.70 and a 12-month 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, topping the consensus estimate of $1.68 by $0.15. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. Equities research analysts anticipate that Aptiv will post 6.23 earnings per share for the current fiscal year.

Institutional Trading of Aptiv

A number of institutional investors have recently modified their holdings of APTV. Janney Montgomery Scott LLC boosted its stake in Aptiv by 36.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 47,934 shares of the auto parts company’s stock worth $3,818,000 after purchasing an additional 12,835 shares during the period. Hemenway Trust Co LLC boosted its position in shares of Aptiv by 25.2% in the first quarter. Hemenway Trust Co LLC now owns 55,968 shares of the auto parts company’s stock valued at $4,458,000 after acquiring an additional 11,270 shares during the period. M&G Plc purchased a new position in Aptiv during the first quarter valued at approximately $8,337,000. Sei Investments Co. increased its holdings in Aptiv by 9.5% during the 1st quarter. Sei Investments Co. now owns 287,781 shares of the auto parts company’s stock worth $22,926,000 after acquiring an additional 25,003 shares during the period. Finally, Swedbank AB purchased a new stake in Aptiv in the 2nd quarter worth approximately $25,018,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

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.