Wells Fargo & Company Forecasts Strong Price Appreciation for Aptiv (NYSE:APTV) Stock

Key Points

• Wells Fargo & Company has raised its target price for Aptiv (NYSE:APTV) from $86.00 to $89.00, indicating a potential upside of 34.76% from its current price, and has assigned the stock an "overweight" rating.
• Aptiv recently reported earnings of $2.12 per share for the quarter, surpassing analysts' expectations of $1.83, and recorded revenue of $5.21 billion, which was also above the consensus estimate of $5.02 billion.
• Institutional investors and hedge funds own a significant 94.21% of Aptiv's stock, reflecting strong interest from large investors in the company's performance.

Aptiv (NYSE:APTV - Get Free Report) had its price target raised by Wells Fargo & Company from $86.00 to $89.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the auto parts company's stock. Wells Fargo & Company's target price suggests a potential upside of 37.35% from the company's previous close.

Other analysts have also issued reports about the stock. UBS Group upped their price objective on shares of Aptiv from $66.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Royal Bank Of Canada upped their target price on Aptiv from $60.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen upgraded Aptiv to a "hold" rating in a report on Saturday, June 21st. Morgan Stanley dropped 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. Finally, Barclays increased their price target on Aptiv from $65.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $81.50.

Aptiv Price Performance

APTV traded down $0.06 on Friday, reaching $64.80. The company had a trading volume of 6,377,395 shares, compared to its average volume of 3,046,481. The company has a fifty day moving average of $68.78 and a 200-day moving average of $63.90. The company has a market capitalization of $14.11 billion, a P/E ratio of 14.83, a PEG 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 has a one year low of $47.19 and a one year high of $75.41.

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

Institutional Trading of Aptiv

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake 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 buying an additional 6,062,438 shares in the last quarter. FMR LLC increased its stake in shares of Aptiv by 1.7% in the fourth quarter. FMR LLC now owns 7,775,251 shares of the auto parts company's stock valued at $470,247,000 after buying an additional 126,882 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 buying an additional 570,930 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Aptiv by 53.6% in the first quarter. Alliancebernstein L.P. now owns 3,515,617 shares of the auto parts company's stock valued at $209,179,000 after buying an additional 1,227,020 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Aptiv by 8.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,404,273 shares of the auto parts company's stock worth $202,554,000 after purchasing an additional 266,176 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.