Morgan Stanley Trims Aptiv (NYSE:APTV) Target Price to $68.00

Aptiv (NYSE:APTV) had its target price lowered by Morgan Stanley from $70.00 to $68.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an underweight rating on the auto parts company’s stock.

Several other brokerages have also recently weighed in on APTV. Bank of America decreased their price objective on Aptiv from $115.00 to $105.00 and set a buy rating for the company in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $74.00 price target on shares of Aptiv in a research report on Tuesday, September 10th. Piper Sandler downgraded Aptiv from a neutral rating to an underweight rating and cut their price objective for the company from $78.00 to $63.00 in a report on Wednesday, June 26th. UBS Group dropped their price target on shares of Aptiv from $107.00 to $99.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Finally, Wolfe Research assumed coverage on shares of Aptiv in a research report on Thursday, September 5th. They issued an outperform rating and a $89.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $95.31.

Aptiv Stock Performance

Shares of Aptiv stock opened at $74.24 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.09. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.65 and a beta of 1.79. The stock’s 50-day moving average is $69.47 and its 200-day moving average is $73.88. Aptiv has a one year low of $63.62 and a one year high of $100.88.

Aptiv (NYSE:APTV) last released its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The firm had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Equities analysts predict that Aptiv will post 6.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aptiv

Several institutional investors have recently made changes to their positions in the stock. Capital World Investors bought a new stake in shares of Aptiv during the 1st quarter valued at $343,760,000. EdgePoint Investment Group Inc. bought a new stake in Aptiv during the first quarter worth about $335,426,000. Massachusetts Financial Services Co. MA grew its stake in Aptiv by 15.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,861,135 shares of the auto parts company’s stock worth $905,681,000 after buying an additional 1,764,844 shares in the last quarter. Ariel Investments LLC bought a new position in Aptiv in the 1st quarter valued at about $85,880,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of 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 buying an additional 905,431 shares in the last quarter. 94.21% of the stock is currently owned by 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.