Bank of America Lowers Aptiv (NYSE:APTV) Price Target to $158.00

Aptiv (NYSE:APTVGet Rating) had its price target lowered by equities researchers at Bank of America from $165.00 to $158.00 in a report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the auto parts company’s stock. Bank of America‘s price objective would suggest a potential upside of 63.32% from the company’s current price.

APTV has been the subject of several other reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Aptiv from $136.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, August 5th. The Goldman Sachs Group cut their target price on shares of Aptiv from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. StockNews.com upgraded shares of Aptiv from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Guggenheim dropped their price objective on shares of Aptiv from $180.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Finally, Oppenheimer dropped their price objective on shares of Aptiv from $172.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $151.11.

Aptiv Price Performance

NYSE APTV opened at $96.74 on Friday. The company has a current ratio of 2.63, a quick ratio of 2.04 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $97.69 and a 200 day simple moving average of $103.05. The company has a market cap of $26.21 billion, a P/E ratio of 230.33, a P/E/G ratio of 2.66 and a beta of 2.01. Aptiv has a 1 year low of $84.14 and a 1 year high of $180.81.

Aptiv (NYSE:APTVGet Rating) last released its earnings results on Thursday, August 4th. The auto parts company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.36). The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.08 billion. Aptiv had a net margin of 1.10% and a return on equity of 6.01%. Aptiv’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 earnings per share. On average, sell-side analysts predict that Aptiv will post 3.21 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kevin P. Clark sold 6,665 shares of the stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $89.36, for a total transaction of $595,584.40. Following the completion of the sale, the chief executive officer now owns 639,217 shares in the company, valued at approximately $57,120,431.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aptiv

A number of hedge funds have recently added to or reduced their stakes in APTV. Qube Research & Technologies Ltd bought a new stake in Aptiv during the 4th quarter worth about $12,667,000. AlphaCrest Capital Management LLC boosted its stake in shares of Aptiv by 88.3% in the 4th quarter. AlphaCrest Capital Management LLC now owns 7,560 shares of the auto parts company’s stock valued at $1,247,000 after purchasing an additional 3,546 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Aptiv by 11.1% in the 4th quarter. HighTower Advisors LLC now owns 48,296 shares of the auto parts company’s stock valued at $7,940,000 after purchasing an additional 4,827 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Aptiv by 20.2% in the 4th quarter. Teacher Retirement System of Texas now owns 52,320 shares of the auto parts company’s stock valued at $8,630,000 after purchasing an additional 8,804 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Aptiv by 43.7% in the 4th quarter. Rafferty Asset Management LLC now owns 7,366 shares of the auto parts company’s stock valued at $1,215,000 after purchasing an additional 2,239 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

About Aptiv

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Aptiv PLC designs, manufacturers, and sells vehicle components worldwide. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates in two segment, Signal and Power Solutions, and Advanced Safety and User Experience. The Signal and Power Solutions segment designs, manufactures, and assembles vehicle's electrical architecture, including engineered component products, connectors, wiring assemblies and harnesses, cable management products, electrical centers, and hybrid high voltage and safety distribution systems.

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