Aptiv (NYSE:APTV) Shares Gap Up on Strong Earnings

Aptiv PLC (NYSE:APTV) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $61.27, but opened at $65.00. Aptiv shares last traded at $64.72, with a volume of 934,541 shares trading hands.

The auto parts company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.12. Aptiv had a net margin of 12.29% and a return on equity of 14.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on APTV shares. Baird R W raised Aptiv from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. UBS Group raised their price target on Aptiv from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler raised shares of Aptiv from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $65.00 in a research report on Thursday, January 23rd. Barclays raised their target price on shares of Aptiv from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Guggenheim reissued a “buy” rating and issued a $73.00 price target on shares of Aptiv in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Aptiv presently has an average rating of “Moderate Buy” and an average target price of $86.72.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in Aptiv by 8.8% in the 2nd quarter. Cetera Investment Advisers now owns 35,658 shares of the auto parts company’s stock valued at $2,511,000 after acquiring an additional 2,895 shares in the last quarter. Czech National Bank raised its stake in shares of Aptiv by 4.4% in the third quarter. Czech National Bank now owns 54,138 shares of the auto parts company’s stock worth $3,898,000 after purchasing an additional 2,293 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Aptiv by 36.9% during the third quarter. Mather Group LLC. now owns 653 shares of the auto parts company’s stock valued at $47,000 after purchasing an additional 176 shares in the last quarter. First Affirmative Financial Network bought a new stake in Aptiv in the 3rd quarter worth about $208,000. Finally, Exchange Traded Concepts LLC raised its position in Aptiv by 7.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 162,370 shares of the auto parts company’s stock worth $11,692,000 after buying an additional 10,817 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Aptiv Stock Up 1.0 %

The company’s 50 day simple moving average is $60.06 and its 200-day simple moving average is $64.24. The firm has a market cap of $15.06 billion, a P/E ratio of 7.15, a PEG ratio of 0.55 and a beta of 1.74. 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 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.