Aptiv (NYSE:APTV) Sees Large Volume Increase After Analyst Upgrade

Key Points

• Shares of Aptiv PLC experienced a significant increase in trading volume after Royal Bank of Canada upgraded the stock's price target from $85.00 to $92.00, with nearly 4.5 million shares traded.
• Despite the upgrade, several research analysts have given mixed ratings, with one sell rating, nine holds, ten buys, and three strong buys, leading to an average rating of "Moderate Buy".
• Aptiv's recent earnings report showed a quarterly profit of $2.12 per share, exceeding expectations, with revenue reaching $5.21 billion and a net margin of 5.12%.

Aptiv PLC (NYSE:APTV - Get Free Report) shares saw an uptick in trading volume on Tuesday after Royal Bank Of Canada raised their price target on the stock from $85.00 to $92.00. Royal Bank Of Canada currently has an outperform rating on the stock. 4,485,492 shares traded hands during mid-day trading, an increase of 49% from the previous session's volume of 3,012,797 shares.The stock last traded at $63.94 and had previously closed at $64.86.

A number of other research analysts have also issued reports on APTV. Bank of America increased their target price on Aptiv from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Wells Fargo & Company increased their target price on Aptiv from $86.00 to $89.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their target price on Aptiv from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Barclays increased their target price 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, Wolfe Research lowered Aptiv from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Aptiv presently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Institutional Trading of Aptiv

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stephens Inc. AR increased its stake in shares of Aptiv by 3.9% in the 2nd quarter. Stephens Inc. AR now owns 4,096 shares of the auto parts company's stock worth $279,000 after acquiring an additional 155 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of Aptiv by 1.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 9,760 shares of the auto parts company's stock worth $581,000 after purchasing an additional 160 shares during the last quarter. AlTi Global Inc. increased its position in shares of Aptiv by 1.6% during the 1st quarter. AlTi Global Inc. now owns 10,677 shares of the auto parts company's stock worth $635,000 after purchasing an additional 173 shares during the last quarter. True Wealth Design LLC increased its position in shares of Aptiv by 83.8% during the 2nd quarter. True Wealth Design LLC now owns 397 shares of the auto parts company's stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Aptiv by 11.4% during the 4th quarter. Covestor Ltd now owns 1,819 shares of the auto parts company's stock worth $110,000 after purchasing an additional 186 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Aptiv Stock Up 1.6%

The business has a 50-day moving average of $68.61 and a 200-day moving average of $63.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.24 and a current ratio of 1.76. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.75 and a beta of 1.48.

Aptiv (NYSE:APTV - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The auto parts company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.02 billion. Aptiv had a return on equity of 18.46% and a net margin of 5.12%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $1.58 EPS. On average, sell-side analysts expect that Aptiv PLC will post 7.2 EPS for the current year.

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.