Oppenheimer Reiterates "Outperform" Rating for Aptiv (NYSE:APTV)

Key Points

• Oppenheimer has raised its price target for Aptiv's stock from $84.00 to $88.00, suggesting a potential upside of 33.82% from its current price.
• In the latest earnings report, Aptiv exceeded expectations with $2.12 EPS for the quarter, surpassing the consensus estimate of $1.83, along with a revenue of $5.21 billion.
• Analysts show a generally positive outlook with a consensus rating of "Moderate Buy" and an average target price of $80.56 among twelve analysts covering the stock.

Aptiv (NYSE:APTV - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Oppenheimer in a report released on Monday, MarketBeat Ratings reports. They currently have a $88.00 price objective on the auto parts company's stock, up from their prior price objective of $84.00. Oppenheimer's price objective suggests a potential upside of 31.64% from the stock's previous close.

APTV has been the topic of a number of other reports. Bank of America increased their target price on shares of Aptiv from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Morgan Stanley dropped their price objective on shares of Aptiv from $60.00 to $55.00 and set an "underweight" rating on the stock in a research note on Monday, May 19th. Robert W. Baird set a $82.00 target price on shares of Aptiv and gave the stock an "outperform" rating in a report on Friday, July 11th. Wells Fargo & Company upped their target price on Aptiv from $86.00 to $89.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Guggenheim downgraded Aptiv from a "buy" rating to a "neutral" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $81.50.

Aptiv Stock Up 1.6%

Aptiv stock traded up $1.05 during midday trading on Monday, hitting $66.85. The stock had a trading volume of 1,948,263 shares, compared to its average volume of 3,040,612. The business has a fifty day moving average price of $68.61 and a 200 day moving average price of $63.95. Aptiv has a 12 month low of $47.19 and a 12 month high of $75.41. The stock has a market cap of $14.56 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.73 and a beta of 1.48. The company has a current ratio of 1.76, a quick ratio of 1.24 and a debt-to-equity ratio of 0.79.

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

Institutional Investors Weigh In On Aptiv

A number of hedge funds and other institutional investors have recently modified their holdings of APTV. Zions Bancorporation National Association UT bought a new position in Aptiv in the 1st quarter valued at about $26,000. True Wealth Design LLC raised 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 buying an additional 181 shares in the last quarter. 1248 Management LLC acquired a new stake in shares of Aptiv in the 1st quarter worth approximately $28,000. Geneos Wealth Management Inc. boosted its holdings in shares of Aptiv by 452.3% in the first quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company's stock valued at $29,000 after acquiring an additional 398 shares in the last quarter. Finally, Mather Group LLC. increased its stake in shares of Aptiv by 155.2% during the first quarter. Mather Group LLC. now owns 633 shares of the auto parts company's stock valued at $38,000 after acquiring an additional 385 shares during the period. 94.21% of the stock is currently owned by 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.