Aptiv (NYSE:APTV) Hits New 12-Month High - Here's What Happened

Key Points

• Aptiv's stock reached a new 52-week high of $75.57 during trading, showing significant investor interest with a volume of over 1 million shares exchanged.
• Research analysts have mixed opinions on Aptiv, with the consensus rating being a "Moderate Buy" and a target price of $81.81, as several analysts have updated their price targets recently.
• The company reported quarterly earnings of $2.12 per share, outperforming estimates and reflecting revenue growth, which was attributed to a 3.1% increase compared to the prior year.

Aptiv PLC (NYSE:APTV - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $75.57 and last traded at $75.52, with a volume of 1011337 shares changing hands. The stock had previously closed at $74.18.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APTV shares. Guggenheim cut Aptiv from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada lifted their price objective on shares of Aptiv from $85.00 to $92.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Morgan Stanley increased their target price on shares of Aptiv from $55.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 12th. Barclays increased their price target on Aptiv from $65.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their price target on Aptiv from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $81.81.

Aptiv Trading Up 2.0%

The business has a 50 day moving average of $69.24 and a two-hundred day moving average of $64.31. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 0.83 and a beta of 1.48. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.24 and a current ratio of 1.76.

Aptiv (NYSE:APTV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The auto parts company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Aptiv had a net margin of 5.12% and a return on equity of 18.46%. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the firm posted $1.58 EPS. Aptiv's revenue was up 3.1% compared to the same quarter last year. Equities analysts predict that Aptiv PLC will post 7.2 EPS for the current year.

Hedge Funds Weigh In On Aptiv

A number of hedge funds have recently bought and sold shares of APTV. Goldman Sachs Group Inc. grew its holdings in 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 purchasing an additional 6,062,438 shares during the period. Boston Partners bought a new position in shares of Aptiv during the 2nd quarter worth $220,911,000. Norges Bank bought a new stake in Aptiv in the 2nd quarter valued at about $187,652,000. AustralianSuper Pty Ltd purchased a new stake in Aptiv during the first quarter valued at about $117,260,000. Finally, Pacer Advisors Inc. boosted its position in Aptiv by 5,379.7% during the first quarter. Pacer Advisors Inc. now owns 1,907,379 shares of the auto parts company's stock worth $113,489,000 after purchasing an additional 1,872,571 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

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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