Aptiv (NYSE:APTV) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Aptiv (NYSE:APTV) from an equal weight rating to an overweight rating in a report issued on Friday morning, MarketBeat reports. Wells Fargo & Company currently has $87.00 target price on the auto parts company’s stock, up from their prior target price of $78.00.

Several other brokerages also recently commented on APTV. Wolfe Research initiated coverage on shares of Aptiv in a report on Thursday, September 5th. They issued an outperform rating and a $89.00 price target for the company. Robert W. Baird dropped their price objective on Aptiv from $90.00 to $83.00 and set a neutral rating for the company in a research note on Friday, July 12th. Bank of America reduced their target price on Aptiv from $115.00 to $105.00 and set a buy rating for the company in a research report on Monday, July 22nd. Citigroup lowered their price target on Aptiv from $128.00 to $108.00 and set a buy rating on the stock in a report on Friday, July 12th. Finally, Royal Bank of Canada boosted their price objective on Aptiv from $85.00 to $87.00 and gave the stock an outperform rating in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $95.44.

Aptiv Stock Performance

Shares of APTV opened at $69.84 on Friday. Aptiv has a 52-week low of $63.62 and a 52-week high of $100.88. The stock’s 50-day simple moving average is $69.54 and its 200 day simple moving average is $74.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.49. The stock has a market capitalization of $19.00 billion, a price-to-earnings ratio of 6.58, a price-to-earnings-growth ratio of 0.60 and a beta of 1.79.

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

Institutional Trading of Aptiv

Several hedge funds have recently added to or reduced their stakes in APTV. Riverview Trust Co bought a new stake in shares of Aptiv in the 1st quarter valued at about $25,000. Independence Bank of Kentucky bought a new position in shares of Aptiv in the second quarter worth approximately $25,000. Hazlett Burt & Watson Inc. bought a new position in shares of Aptiv in the first quarter worth approximately $28,000. Crewe Advisors LLC increased its stake in shares of Aptiv by 94.7% in the second quarter. Crewe Advisors LLC now owns 442 shares of the auto parts company’s stock worth $31,000 after buying an additional 215 shares during the period. Finally, Clearstead Trust LLC raised its holdings in Aptiv by 305.0% during the 1st quarter. Clearstead Trust LLC now owns 405 shares of the auto parts company’s stock valued at $32,000 after buying an additional 305 shares during the last quarter. 94.21% of the stock is 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.