Royal Bank Of Canada Raises Aptiv (NYSE:APTV) Price Target to $92.00

Key Points

• Royal Bank of Canada has increased Aptiv's price target from $85.00 to $92.00, suggesting a potential upside of 42.03% from the previous closing price.
• Aptiv reported a quarterly earnings per share (EPS) of $2.12, exceeding analyst expectations of $1.83, with year-over-year revenue growth of 3.1%.
• The stock currently has an average rating of "Moderate Buy" from analysts, with a mix of buy, hold, and sell ratings reflected across various research reports.

Aptiv (NYSE:APTV - Get Free Report) had its target price lifted by equities researchers at Royal Bank Of Canada from $85.00 to $92.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the auto parts company's stock. Royal Bank Of Canada's target price points to a potential upside of 41.18% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Barclays upped their price target on shares of Aptiv from $65.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. upped their target price on shares of Aptiv from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Oppenheimer restated an "outperform" rating and set a $88.00 price objective (up previously from $84.00) on shares of Aptiv in a report on Monday. Wall Street Zen raised shares of Aptiv to a "hold" rating in a research report on Saturday, June 21st. Finally, Morgan Stanley decreased their price objective on Aptiv from $60.00 to $55.00 and set an "underweight" rating on the stock in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $81.50.

Aptiv Price Performance

NYSE APTV opened at $65.17 on Tuesday. The company has a 50 day simple moving average of $68.66 and a 200-day simple moving average of $63.92. Aptiv has a 52-week low of $47.19 and a 52-week high of $75.41. The firm has a market capitalization of $14.19 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 0.73 and a beta of 1.48. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.24.

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 for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company 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 business's quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS. Equities research analysts predict that Aptiv will post 7.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aptiv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Aptiv by 242.7% in 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 last quarter. FMR LLC increased its position in Aptiv by 1.7% during the 4th quarter. FMR LLC now owns 7,775,251 shares of the auto parts company's stock worth $470,247,000 after buying an additional 126,882 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Aptiv by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,934,199 shares of the auto parts company's stock valued at $353,085,000 after acquiring an additional 570,930 shares during the period. Alliancebernstein L.P. increased its position 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 acquiring an additional 1,227,020 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Aptiv by 8.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,404,273 shares of the auto parts company's stock valued at $202,554,000 after purchasing an additional 266,176 shares during the period. 94.21% of the stock is owned by institutional investors.

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.