Aptiv (NYSE:APTV) Stock Bumped Down to “Hold” by HSBC

HSBC cut shares of Aptiv (NYSE:APTV – Free Report) from a strong-buy rating to a hold rating in a report issued on Friday,Zacks reports.

Several other research firms have also recently issued reports on APTV. Citigroup lowered their target price on shares of Aptiv from $77.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday. Zacks Research cut shares of Aptiv from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. BNP Paribas Exane reiterated an “outperform” rating and issued a $59.00 price objective (down from $63.00) on shares of Aptiv in a research report on Wednesday. UBS Group dropped their price objective on Aptiv from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Finally, Robert W. Baird set a $59.00 target price on Aptiv in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Aptiv has an average rating of “Moderate Buy” and a consensus target price of $69.02.

View Our Latest Stock Report on APTV

Aptiv Stock Down 3.4%

APTV traded down $1.37 during mid-day trading on Friday, reaching $39.48. 4,079,917 shares of the stock were exchanged, compared to its average volume of 2,583,068. Aptiv has a 1 year low of $39.40 and a 1 year high of $88.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.33 and a current ratio of 2.02. The stock has a market capitalization of $8.20 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43. The company has a 50 day moving average price of $44.13 and a two-hundred day moving average price of $58.97.

Aptiv (NYSE:APTV – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The auto parts company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.33 by $0.09. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.17 billion. Aptiv had a net margin of 1.17% and a return on equity of 17.10%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 earnings per share. As a group, research analysts anticipate that Aptiv will post 5.65 EPS for the current year.

Institutional Trading of Aptiv

Several institutional investors have recently added to or reduced their stakes in APTV. Bank of New York Mellon Corp bought a new position in Aptiv during the 2nd quarter worth approximately $61,065,000. Cooper Creek Partners Management LLC bought a new stake in Aptiv in the first quarter valued at $48,166,000. Private Management Group Inc. bought a new stake in Aptiv in the third quarter valued at $29,294,000. First Trust Advisors LP increased its position in Aptiv by 23.1% during the 1st quarter. First Trust Advisors LP now owns 2,394,019 shares of the auto parts company’s stock valued at $166,241,000 after purchasing an additional 449,145 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Aptiv during the 2nd quarter valued at $27,364,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Aptiv News Summary

Here are the key news stories impacting Aptiv this week:

• Positive Sentiment: Aptiv said it is accelerating its robotics expansion with industry partners, a potential opportunity to broaden growth beyond its core automotive business. Aptiv: Accelerates Robotics Expansion With Industry Partners
• Positive Sentiment: Citigroup lowered its price target to $68 from $77 but maintained a Buy rating; the new target implies 72.2% upside from the cited share price. This signals continued optimism, although the reduced target reflects a more cautious valuation. Citigroup stock recommendations
• Neutral Sentiment: Wall Street analysts are described as moderately optimistic despite Aptiv’s substantial underperformance versus the broader market over the past year. Are Wall Street Analysts Predicting Aptiv Stock Will Climb or Sink?
• Negative Sentiment: Several firms lowered their price targets, including Goldman Sachs, which cut its target to $54, and TD Cowen, which reduced its target to $72. Morgan Stanley and RBC also lowered targets, adding to the cautious tone around valuation. Goldman Sachs lowers Aptiv price target TD Cowen cuts Aptiv price target Morgan Stanley lowers Aptiv price target RBC lowers Aptiv price target

About Aptiv

(Get Free Report)

Aptiv PLC (NYSE: APTV) is a global automotive technology company that develops systems and software intended to make vehicles safer, more connected and increasingly automated. Its solutions are used by automakers in passenger vehicles and commercial vehicles worldwide.

The company’s product portfolio includes advanced driver-assistance and active-safety systems, vehicle computing platforms, infotainment and connectivity technologies, automated-driving solutions, and electrical and electronic distribution systems.

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