Aptiv (NYSE:APTV) Given New $90.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has increased its price target for Aptiv from $85.00 to $90.00, indicating a potential upside of 37.15% based on the company's recent closing price.
• Aptiv's quarterly earnings surpassed expectations, reporting $2.12 EPS against an estimated $1.83 EPS, with revenue of $5.21 billion for the quarter.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with an average target price of $80.38.

Aptiv (NYSE:APTV - Get Free Report) had its price target lifted by research analysts at JPMorgan Chase & Co. from $85.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the auto parts company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 37.15% from the company's previous close.

APTV has been the subject of several other reports. UBS Group increased their price objective on Aptiv from $66.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Bank of America raised their price target on Aptiv from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Wolfe Research downgraded Aptiv from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 2nd. Barclays boosted their price objective on Aptiv from $65.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada boosted their target price on Aptiv from $60.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.38.

Aptiv Price Performance

Shares of APTV stock traded down $3.02 during mid-day trading on Friday, hitting $65.62. The company had a trading volume of 1,199,357 shares, compared to its average volume of 3,017,296. The company has a market capitalization of $14.29 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.76 and a beta of 1.46. The stock's 50 day moving average price is $68.81 and its 200-day moving average price is $63.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.61 and a quick ratio of 1.11. Aptiv has a 52-week low of $47.19 and a 52-week high of $75.41.

Aptiv (NYSE:APTV - Get Free Report) last issued its earnings results on Thursday, July 31st. The auto parts company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Aptiv had a net margin of 7.93% and a return on equity of 17.24%. The company had revenue of $5.21 billion for the quarter, compared to analysts' expectations of $5.02 billion. During the same period in the prior year, the business earned $1.58 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast that Aptiv will post 7.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Aptiv by 242.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,560,781 shares of the auto parts company's stock valued at $509,366,000 after purchasing an additional 6,062,438 shares in the last quarter. FMR LLC raised its position in shares of Aptiv by 1.7% in the fourth quarter. FMR LLC now owns 7,775,251 shares of the auto parts company's stock valued at $470,247,000 after purchasing an additional 126,882 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Aptiv by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,934,199 shares of the auto parts company's stock worth $353,085,000 after acquiring an additional 570,930 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Aptiv by 53.6% during the first quarter. Alliancebernstein L.P. now owns 3,515,617 shares of the auto parts company's stock worth $209,179,000 after buying an additional 1,227,020 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Aptiv by 8.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,404,273 shares of the auto parts company's stock valued at $202,554,000 after purchasing an additional 266,176 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

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.

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