Aptiv (NYSE:APTV) Sees Strong Trading Volume 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%.

Shares of Aptiv PLC (NYSE:APTV - Get Free Report) saw unusually-strong 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. Approximately 4,485,492 shares changed hands during 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.

Several other research analysts also recently commented on APTV. Oppenheimer reissued an "outperform" rating and issued a $88.00 target price (up from $84.00) on shares of Aptiv in a report on Monday. Morgan Stanley reduced their target price on Aptiv from $60.00 to $55.00 and set an "underweight" rating on the stock in a report on Monday, May 19th. Barclays boosted their target price on Aptiv from $65.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. UBS Group boosted their target price on Aptiv from $66.00 to $75.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, Wolfe Research downgraded Aptiv from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. 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 worth $509,366,000 after purchasing an additional 6,062,438 shares during the period. AustralianSuper Pty Ltd bought a new position in Aptiv during the first quarter worth about $117,260,000. Pacer Advisors Inc. grew its holdings 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. Alliancebernstein L.P. grew its holdings 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 purchasing an additional 1,227,020 shares during the period. Finally, Paloma Partners Management Co grew its holdings in Aptiv by 968.7% during the fourth quarter. Paloma Partners Management Co now owns 909,500 shares of the auto parts company's stock worth $55,007,000 after purchasing an additional 824,400 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Aptiv Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. The firm has a market cap of $14.27 billion, a P/E ratio of 14.99, a PEG ratio of 0.73 and a beta of 1.48. The business has a fifty day moving average of $68.66 and a 200 day moving average of $63.92.

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

Aptiv Company Profile

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.