Aptiv (NYSE:APTV) Price Target Cut to $75.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut Aptiv’s price target from $84 to $75 while keeping an overweight rating, implying about 22.7% upside from the current share price.
• Other analysts have also turned more cautious, with several firms lowering targets; the stock now has a consensus rating of Moderate Buy and an average target price of $82.11.
• Aptiv recently beat quarterly earnings and revenue expectations, but the stock was trading around $61.11, well below its 52-week high of $88.93.

Aptiv (NYSE:APTV - Get Free Report) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $84.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the auto parts company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 22.72% from the stock's current price.

Several other equities research analysts also recently commented on APTV. Wall Street Zen downgraded shares of Aptiv from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Citigroup decreased their price target on shares of Aptiv from $92.33 to $77.00 and set a "buy" rating for the company in a report on Monday, May 18th. Oppenheimer lowered their price objective on shares of Aptiv from $106.00 to $84.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Robert W. Baird dropped their price objective on Aptiv from $105.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, April 2nd. Finally, Barclays reduced their target price on Aptiv from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Twenty-two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Aptiv currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.11.

Aptiv Price Performance

Aptiv stock traded up $1.25 on Friday, reaching $61.11. The company's stock had a trading volume of 186,069 shares, compared to its average volume of 2,947,762. The business's fifty day moving average price is $61.44 and its 200 day moving average price is $69.20. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 2.11. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 1.03 and a beta of 1.46. Aptiv has a twelve month low of $51.68 and a twelve month high of $88.93.

Aptiv (NYSE:APTV - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.62 by $0.09. Aptiv had a net margin of 1.77% and a return on equity of 17.83%. The business had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same period in the prior year, the firm earned $1.69 earnings per share. Aptiv's revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that Aptiv will post 6.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Aptiv

In other news, EVP Katherine H. Ramundo sold 2,000 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $78.30, for a total transaction of $156,600.00. Following the transaction, the executive vice president directly owned 163,752 shares in the company, valued at $12,821,781.60. The trade was a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Aptiv

A number of institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB increased its position in Aptiv by 34.2% during the 4th quarter. Nordea Investment Management AB now owns 4,579,726 shares of the auto parts company's stock valued at $349,067,000 after purchasing an additional 1,167,946 shares during the period. Thematics Asset Management lifted its position in shares of Aptiv by 56.9% in the 3rd quarter. Thematics Asset Management now owns 261,454 shares of the auto parts company's stock worth $22,543,000 after purchasing an additional 94,782 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of Aptiv in the 3rd quarter valued at $297,917,000. CSM Advisors LLC acquired a new stake in shares of Aptiv during the third quarter worth $19,335,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Aptiv by 2.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,915,906 shares of the auto parts company's stock worth $228,724,000 after buying an additional 81,492 shares during the period. Institutional investors own 94.21% of the company's stock.

About Aptiv

Aptiv plc is a global automotive technology company that develops safer, greener and more connected solutions for the mobility industry. The company designs and supplies advanced electrical architectures, electronic systems and software that enable vehicle connectivity, active safety, advanced driver-assistance systems (ADAS) and autonomous driving capabilities. Aptiv's customers include major automakers and mobility service providers seeking to integrate higher levels of automation, electrification and software-defined features into production vehicles and mobility platforms.

Product and service offerings span vehicle electrical systems and wiring, connectors and harnesses, high-voltage electrification components, power electronics and charging solutions, sensors and compute platforms that support ADAS and autonomous functions, and the software and services required to integrate and manage these systems.

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