Royal Bank of Canada Boosts Aptiv (NYSE:APTV) Price Target to $77.00

Aptiv (NYSE:APTV) had its price target raised by Royal Bank of Canada from $60.00 to $77.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the auto parts company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 30.53% from the stock’s previous close.

A number of other research firms also recently issued reports on APTV. Hsbc Global Res upgraded shares of Aptiv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Robert W. Baird lowered their target price on Aptiv from $84.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company cut their price target on Aptiv from $77.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday. Piper Sandler upped their price objective on Aptiv from $65.00 to $67.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Finally, UBS Group reiterated a “neutral” rating and issued a $58.00 target price (down from $91.00) on shares of Aptiv in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Aptiv Price Performance

Shares of APTV stock opened at $58.99 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 1.07. Aptiv has a 1-year low of $47.19 and a 1-year high of $85.56. The firm has a fifty day moving average of $58.45 and a two-hundred day moving average of $59.98. The firm has a market cap of $13.54 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.62 and a beta of 1.64.

Aptiv (NYSE:APTV) last announced its quarterly earnings data on Thursday, May 1st. The auto parts company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Aptiv had a return on equity of 15.63% and a net margin of 9.07%. Aptiv’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. As a group, research analysts anticipate that Aptiv will post 7.2 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Benjamin Lyon sold 14,568 shares of Aptiv stock in a transaction on Monday, March 10th. The stock was sold at an average price of $65.50, for a total value of $954,204.00. Following the transaction, the senior vice president now directly owns 125,237 shares in the company, valued at $8,203,023.50. The trade was a 10.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Aptiv

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its stake in Aptiv by 11.4% during the fourth quarter. Covestor Ltd now owns 1,819 shares of the auto parts company’s stock valued at $110,000 after buying an additional 186 shares in the last quarter. Boston Common Asset Management LLC raised its holdings in shares of Aptiv by 4.8% during the fourth quarter. Boston Common Asset Management LLC now owns 4,110 shares of the auto parts company’s stock valued at $249,000 after acquiring an additional 188 shares during the period. Stephens Inc. AR lifted its position in shares of Aptiv by 5.4% in the 1st quarter. Stephens Inc. AR now owns 3,941 shares of the auto parts company’s stock valued at $234,000 after acquiring an additional 201 shares in the last quarter. Horizon Investments LLC grew its position in Aptiv by 6.1% during the 4th quarter. Horizon Investments LLC now owns 3,825 shares of the auto parts company’s stock worth $231,000 after purchasing an additional 219 shares in the last quarter. Finally, OLD Second National Bank of Aurora raised its stake in Aptiv by 1.0% during the 1st quarter. OLD Second National Bank of Aurora now owns 24,547 shares of the auto parts company’s stock valued at $1,461,000 after purchasing an additional 239 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.