Aptiv (NYSE:APTV) Given New $85.00 Price Target at Bank of America

Aptiv (NYSE:APTV) had its price objective increased by Bank of America from $80.00 to $85.00 in a report released on Monday,Benzinga reports. Bank of America currently has a buy rating on the auto parts company’s stock.

Other analysts have also issued research reports about the company. TD Cowen initiated coverage on Aptiv in a report on Friday, March 7th. They issued a “buy” rating and a $90.00 target price on the stock. Piper Sandler set a $70.00 price objective on Aptiv and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Royal Bank of Canada boosted their target price on shares of Aptiv from $60.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Wells Fargo & Company boosted their target price on shares of Aptiv from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. Finally, Barclays increased their price target on shares of Aptiv from $55.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.56.

Aptiv Stock Up 2.8%

Shares of Aptiv stock opened at $69.13 on Monday. Aptiv has a 12-month low of $47.19 and a 12-month high of $80.95. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average price of $61.45 and a two-hundred day moving average price of $61.44. The stock has a market capitalization of $15.05 billion, a P/E ratio of 10.05, a PEG ratio of 0.62 and a beta of 1.47.

Aptiv (NYSE:APTV) last posted its quarterly earnings data on Thursday, May 1st. The auto parts company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.14. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.78 billion. Aptiv had a net margin of 9.07% and a return on equity of 15.63%. Aptiv’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. Equities analysts expect that Aptiv will post 7.2 earnings per share for the current year.

Institutional Trading of Aptiv

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Aptiv by 242.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,560,781 shares of the auto parts company’s stock valued at $509,366,000 after acquiring an additional 6,062,438 shares during the period. AustralianSuper Pty Ltd bought a new position in Aptiv during the 1st quarter valued at about $117,260,000. Pacer Advisors Inc. boosted its position in Aptiv by 5,379.7% in the first quarter. Pacer Advisors Inc. now owns 1,907,379 shares of the auto parts company’s stock valued at $113,489,000 after buying an additional 1,872,571 shares in the last quarter. Norges Bank bought a new stake in Aptiv during the fourth quarter worth about $106,492,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Aptiv by 1,018.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,690,845 shares of the auto parts company’s stock worth $102,262,000 after buying an additional 1,539,724 shares in the last quarter. 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.