Aptiv (NYSE:APTV) Stock Gets Downgrade from HSBC

Aptiv (NYSE:APTV) was downgraded by research analysts at HSBC from a “strong-buy” rating to a “hold” rating in a report issued on Friday, Zacks reports.

A number of other research analysts also recently commented on the company. Evercore reissued an “outperform” rating and issued a $70.00 price target on shares of Aptiv in a report on Monday, August 10th. Robert W. Baird set a $59.00 price target on shares of Aptiv in a research note on Wednesday, August 5th. TD Cowen reduced their price target on Aptiv from $77.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday. Fox Advisors downgraded shares of Aptiv from an “overweight” rating to an “equal weight” rating in a report on Wednesday, August 5th. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and issued a $59.00 target price (down from $63.00) on shares of Aptiv in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Aptiv has a consensus rating of “Moderate Buy” and a consensus price target of $69.02.

Aptiv Stock Performance

APTV stock opened at $39.48 on Friday. Aptiv has a 12-month low of $39.40 and a 12-month high of $88.93. The firm has a market cap of $8.20 billion, a P/E ratio of 6.00, a P/E/G ratio of 0.86 and a beta of 1.43. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $44.13 and its 200 day simple moving average is $58.97.

Aptiv (NYSE:APTV) last released its earnings results on Tuesday, November 3rd. The auto parts company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.09. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Aptiv had a net margin of 1.17% and a return on equity of 17.10%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $2.17 earnings per share. As a group, equities research analysts predict that Aptiv will post 5.65 EPS for the current year.

Institutional Trading of Aptiv

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC increased its stake in Aptiv by 238.9% during the 2nd quarter. Squarepoint Ops LLC now owns 519,044 shares of the auto parts company’s stock valued at $31,859,000 after buying an additional 365,893 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Aptiv in the 2nd quarter worth approximately $27,364,000. Wedge Capital Management L L P NC grew its stake in shares of Aptiv by 32.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 197,161 shares of the auto parts company’s stock worth $12,102,000 after purchasing an additional 48,247 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Aptiv during the first quarter worth about $17,765,000. Finally, Wellington Management Group LLP raised its stake in shares of Aptiv by 105.3% in the 2nd quarter. Wellington Management Group LLP now owns 587,168 shares of the auto parts company’s stock valued at $36,040,000 after acquiring an additional 301,143 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Trending Headlines about Aptiv

Here are the key news stories impacting Aptiv this week:

• Positive Sentiment: Aptiv said it is accelerating its robotics expansion with industry partners, a potential opportunity to broaden growth beyond its core automotive business. Aptiv: Accelerates Robotics Expansion With Industry Partners
• Positive Sentiment: Citigroup lowered its price target to $68 from $77 but maintained a Buy rating; the new target implies 72.2% upside from the cited share price. This signals continued optimism, although the reduced target reflects a more cautious valuation. Citigroup stock recommendations
• Neutral Sentiment: Wall Street analysts are described as moderately optimistic despite Aptiv’s substantial underperformance versus the broader market over the past year. Are Wall Street Analysts Predicting Aptiv Stock Will Climb or Sink?
• Negative Sentiment: Several firms lowered their price targets, including Goldman Sachs, which cut its target to $54, and TD Cowen, which reduced its target to $72. Morgan Stanley and RBC also lowered targets, adding to the cautious tone around valuation. Goldman Sachs lowers Aptiv price target TD Cowen cuts Aptiv price target Morgan Stanley lowers Aptiv price target RBC lowers Aptiv price target

About Aptiv

Aptiv PLC (NYSE: APTV) is a global automotive technology company that develops systems and software intended to make vehicles safer, more connected and increasingly automated. Its solutions are used by automakers in passenger vehicles and commercial vehicles worldwide.

The company’s product portfolio includes advanced driver-assistance and active-safety systems, vehicle computing platforms, infotainment and connectivity technologies, automated-driving solutions, and electrical and electronic distribution systems.