Royal Bank of Canada Issues Pessimistic Forecast for Aptiv (NYSE:APTV) Stock Price

Aptiv (NYSE:APTV) had its target price reduced by analysts at Royal Bank of Canada from $82.00 to $72.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the auto parts company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 27.73% from the company’s previous close.

APTV has been the topic of several other research reports. The Goldman Sachs Group cut their price objective on Aptiv from $118.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company upgraded Aptiv from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $78.00 to $87.00 in a report on Friday, September 20th. Oppenheimer restated an “outperform” rating and set a $145.00 price objective on shares of Aptiv in a report on Tuesday, July 9th. Barclays cut their price objective on Aptiv from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, UBS Group cut their price objective on Aptiv from $107.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Aptiv has an average rating of “Moderate Buy” and an average target price of $88.18.

Aptiv Price Performance

Shares of Aptiv stock opened at $56.37 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $69.58 and its two-hundred day moving average price is $72.41. Aptiv has a 52 week low of $54.70 and a 52 week high of $91.66. The stock has a market cap of $14.98 billion, a PE ratio of 4.26, a price-to-earnings-growth ratio of 0.63 and a beta of 1.79.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.69 by $0.14. Aptiv had a net margin of 18.46% and a return on equity of 13.19%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the business earned $1.30 earnings per share. Aptiv’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aptiv will post 6.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Aptiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its position in Aptiv by 15.9% in 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. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Aptiv by 13.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,515,074 shares of the auto parts company’s stock valued at $529,212,000 after acquiring an additional 905,431 shares during the period. Capital World Investors bought a new position in shares of Aptiv during the first quarter valued at $343,760,000. Clearbridge Investments LLC raised its holdings in shares of Aptiv by 3.1% in the first quarter. Clearbridge Investments LLC now owns 4,315,484 shares of the auto parts company’s stock valued at $343,728,000 after buying an additional 131,431 shares during the last quarter. Finally, EdgePoint Investment Group Inc. bought a new position in shares of Aptiv in the first quarter valued at about $335,426,000. Institutional investors and hedge funds 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.