Morgan Stanley Cuts Aptiv (NYSE:APTV) Price Target to $60.00

Aptiv (NYSE:APTV) had its price objective cut by Morgan Stanley from $68.00 to $60.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an underweight rating on the auto parts company’s stock.

A number of other research firms have also weighed in on APTV. StockNews.com began coverage on shares of Aptiv in a research report on Monday, November 11th. They set a “hold” rating on the stock. Bank of America lowered their target price on Aptiv from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Robert W. Baird cut their price target on Aptiv from $85.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Oppenheimer lowered their price objective on Aptiv from $147.00 to $83.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Nomura Securities raised Aptiv from a “strong sell” rating to a “hold” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.53.

Aptiv Trading Down 2.0 %

APTV stock opened at $52.93 on Thursday. Aptiv has a 12-month low of $52.14 and a 12-month high of $91.66. The business’s 50-day moving average is $66.50 and its 200 day moving average is $71.34. The company has a current ratio of 1.50, a quick ratio of 1.06 and a debt-to-equity ratio of 0.91. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 0.50 and a beta of 1.81.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.15. Aptiv had a return on equity of 14.51% and a net margin of 12.29%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Aptiv will post 6.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Aptiv

Several institutional investors and hedge funds have recently modified their holdings of APTV. Massachusetts Financial Services Co. MA increased 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 purchasing an additional 1,764,844 shares during the period. FMR LLC increased its stake in Aptiv by 20.4% during the 3rd quarter. FMR LLC now owns 7,648,369 shares of the auto parts company’s stock worth $550,759,000 after buying an additional 1,294,670 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Aptiv by 13.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,515,074 shares of the auto parts company’s stock worth $529,212,000 after buying an additional 905,431 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Aptiv by 1,390.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,361,795 shares of the auto parts company’s stock valued at $386,103,000 after buying an additional 5,002,090 shares during the period. Finally, Capital World Investors acquired a new position in shares of Aptiv in the first quarter worth $343,760,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

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.