Aptiv (NYSE:APTV) Hits New 1-Year Low Following Analyst Downgrade

Aptiv PLC (NYSE:APTV) hit a new 52-week low during mid-day trading on Wednesday after Guggenheim lowered their price target on the stock from $103.00 to $92.00. Guggenheim currently has a buy rating on the stock. Aptiv traded as low as $69.84 and last traded at $69.94, with a volume of 2346078 shares changing hands. The stock had previously closed at $71.94.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Aptiv from $84.00 to $83.00 in a report on Monday, April 8th. UBS Group upped their price target on shares of Aptiv from $107.00 to $110.00 in a report on Monday, April 8th. Barclays reduced their price objective on shares of Aptiv from $112.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Piper Sandler reduced their price objective on shares of Aptiv from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. Finally, Robert W. Baird downgraded shares of Aptiv from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $96.00 in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.36.

Insider Transactions at Aptiv

In related news, SVP Benjamin Lyon sold 18,680 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $77.69, for a total transaction of $1,451,249.20. Following the completion of the sale, the senior vice president now directly owns 95,211 shares of the company’s stock, valued at approximately $7,396,942.59. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Aptiv

A number of large investors have recently added to or reduced their stakes in the company. Gradient Investments LLC boosted its stake in Aptiv by 36.1% during the 4th quarter. Gradient Investments LLC now owns 154,944 shares of the auto parts company’s stock valued at $13,902,000 after acquiring an additional 41,135 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Aptiv in the 4th quarter worth about $13,120,000. Douglas Lane & Associates LLC lifted its position in shares of Aptiv by 20.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 378,655 shares of the auto parts company’s stock worth $33,973,000 after buying an additional 65,354 shares during the last quarter. Zenyatta Capital Management LP lifted its position in shares of Aptiv by 53.8% in the 4th quarter. Zenyatta Capital Management LP now owns 50,000 shares of the auto parts company’s stock worth $4,486,000 after buying an additional 17,500 shares during the last quarter. Finally, Banque Pictet & Cie SA lifted its position in shares of Aptiv by 1.0% in the 3rd quarter. Banque Pictet & Cie SA now owns 67,036 shares of the auto parts company’s stock worth $6,609,000 after buying an additional 670 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Aptiv Stock Performance

The stock’s 50-day moving average price is $77.67 and its 200-day moving average price is $82.57. The company has a current ratio of 1.72, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $18.90 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.93 and a beta of 1.90.

Aptiv (NYSE:APTV) last posted its quarterly earnings results on Wednesday, January 31st. The auto parts company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. Aptiv had a net margin of 14.65% and a return on equity of 13.32%. The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.95 billion. As a group, equities analysts expect that Aptiv PLC will post 5.66 EPS for the current year.

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.