Aptiv (NYSE:APTV) Shares Gap Up – Still a Buy?

Shares of Aptiv PLC (NYSE:APTV) gapped up prior to trading on Wednesday . The stock had previously closed at $61.79, but opened at $65.13. Aptiv shares last traded at $64.52, with a volume of 1,363,197 shares.

Wall Street Analysts Forecast Growth

APTV has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on Aptiv from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Barclays cut their price target on Aptiv from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird lowered their price objective on Aptiv from $85.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Aptiv from $107.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, StockNews.com started coverage on shares of Aptiv in a research report on Wednesday. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Aptiv Stock Up 2.1 %

The firm has a market capitalization of $14.83 billion, a P/E ratio of 7.04, a PEG ratio of 0.54 and a beta of 1.75. The firm’s fifty day moving average price is $58.06 and its 200-day moving average price is $64.86. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.06.

Aptiv (NYSE:APTV) last released its earnings results on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.68 by $0.15. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $5.10 billion. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. As a group, equities research analysts forecast that Aptiv PLC will post 6.15 earnings per share for the current year.

Hedge Funds Weigh In On Aptiv

Several institutional investors and hedge funds have recently added to or reduced their stakes in APTV. Benjamin F. Edwards & Company Inc. raised its stake in shares of Aptiv by 62.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,080 shares of the auto parts company’s stock worth $921,000 after purchasing an additional 5,049 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Aptiv by 31.2% in the second quarter. Pacer Advisors Inc. now owns 28,921 shares of the auto parts company’s stock valued at $2,037,000 after acquiring an additional 6,875 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Aptiv by 132.8% in the second quarter. Ensign Peak Advisors Inc now owns 100,192 shares of the auto parts company’s stock worth $7,056,000 after acquiring an additional 57,145 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Aptiv by 312.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 29,164 shares of the auto parts company’s stock valued at $2,054,000 after purchasing an additional 22,098 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Aptiv by 40.6% in the 2nd quarter. Gabelli Funds LLC now owns 83,176 shares of the auto parts company’s stock valued at $5,857,000 after purchasing an additional 24,000 shares during the last quarter. 94.21% of the stock is currently owned by hedge funds and other 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.