Morgan Stanley Issues Pessimistic Forecast for Aptiv (NYSE:APTV) Stock Price

Aptiv (NYSE:APTV) had its price target reduced by Morgan Stanley from $68.00 to $60.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the auto parts company’s stock. Morgan Stanley’s price target would indicate a potential upside of 8.79% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird decreased their price target on shares of Aptiv from $85.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Fox Advisors cut shares of Aptiv from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Aptiv from $76.00 to $66.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada cut their target price on Aptiv from $82.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Barclays dropped their price objective on Aptiv from $100.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.53.

Aptiv Stock Performance

NYSE APTV traded down $0.99 during trading on Thursday, hitting $55.15. The company’s stock had a trading volume of 821,205 shares, compared to its average volume of 3,091,317. Aptiv has a 52 week low of $52.81 and a 52 week high of $91.66. The firm has a market cap of $12.96 billion, a P/E ratio of 6.16, a price-to-earnings-growth ratio of 0.50 and a beta of 1.81. The firm has a 50 day moving average price of $67.15 and a 200 day moving average price of $71.60. The company has a quick ratio of 1.06, a current ratio of 1.50 and a debt-to-equity ratio of 0.91.

Aptiv (NYSE:APTV) last released its earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.15. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that Aptiv will post 6.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its holdings in Aptiv by 15.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,861,135 shares of the auto parts company’s stock valued at $905,681,000 after buying an additional 1,764,844 shares during the period. FMR LLC raised its position in shares of Aptiv by 20.4% during the 3rd quarter. FMR LLC now owns 7,648,369 shares of the auto parts company’s stock valued at $550,759,000 after acquiring an additional 1,294,670 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Aptiv by 13.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,515,074 shares of the auto parts company’s stock valued at $529,212,000 after purchasing an additional 905,431 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Aptiv by 1,390.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,361,795 shares of the auto parts company’s stock worth $386,103,000 after purchasing an additional 5,002,090 shares during the last quarter. Finally, Capital World Investors bought a new stake in Aptiv in the first quarter valued at about $343,760,000. 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.