Wells Fargo & Company Trims Aptiv (NYSE:APTV) Target Price to $78.00

Aptiv (NYSE:APTV) had its price objective cut by Wells Fargo & Company from $82.00 to $78.00 in a research report report published on Friday, Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

A number of other research firms have also recently commented on APTV. Evercore ISI lowered their target price on Aptiv from $125.00 to $115.00 and set an outperform rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. dropped their target price on Aptiv from $113.00 to $104.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Citigroup reduced their price target on Aptiv from $128.00 to $108.00 and set a buy rating for the company in a report on Friday, July 12th. Barclays dropped their price target on shares of Aptiv from $110.00 to $105.00 and set an overweight rating on the stock in a research note on Tuesday, July 16th. Finally, Guggenheim raised their price objective on shares of Aptiv from $92.00 to $94.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Aptiv has a consensus rating of Moderate Buy and an average price target of $97.36.

Aptiv Stock Performance

NYSE APTV opened at $69.13 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $73.36 and a 200 day simple moving average of $76.83. Aptiv has a 12-month low of $65.13 and a 12-month high of $108.05. The company has a market cap of $18.81 billion, a P/E ratio of 6.49, a PEG ratio of 0.66 and a beta of 1.79.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share 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 company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm earned $1.25 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts predict that Aptiv will post 6.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 394 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $76.98, for a total transaction of $30,330.12. Following the completion of the sale, the director now directly owns 13,636 shares of the company’s stock, valued at $1,049,699.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC boosted its stake in shares of Aptiv by 19.5% during the fourth quarter. DAVENPORT & Co LLC now owns 47,392 shares of the auto parts company’s stock valued at $4,252,000 after purchasing an additional 7,742 shares during the period. Private Trust Co. NA lifted its position in Aptiv by 29.7% during the 4th quarter. Private Trust Co. NA now owns 1,339 shares of the auto parts company’s stock worth $120,000 after acquiring an additional 307 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Aptiv by 0.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 110,952 shares of the auto parts company’s stock valued at $10,038,000 after acquiring an additional 674 shares during the last quarter. Avitas Wealth Management LLC purchased a new position in shares of Aptiv during the 4th quarter valued at about $423,000. Finally, International Assets Investment Management LLC acquired a new position in Aptiv in the fourth quarter valued at approximately $13,120,000. Institutional investors own 94.21% of the company’s stock.

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.