Aptiv (NYSE:APTV) Given New $68.00 Price Target at Citigroup

Aptiv (NYSE:APTV) had its target price decreased by Citigroup from $77.00 to $68.00 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the auto parts company’s stock.

APTV has been the subject of a number of other reports. Wells Fargo & Company dropped their target price on shares of Aptiv from $77.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. UBS Group reduced their price target on Aptiv from $62.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Fox Advisors downgraded Aptiv from an “overweight” rating to an “equal weight” rating in a report on Wednesday, August 5th. Barclays lowered their price target on Aptiv from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Evercore reiterated an “outperform” rating and issued a $70.00 price objective on shares of Aptiv in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.02.

Aptiv Trading Down 3.4%

NYSE:APTV traded down $1.37 during midday trading on Friday, reaching $39.48. 4,079,917 shares of the stock traded hands, compared to its average volume of 2,583,068. The company has a fifty day moving average of $44.13 and a 200 day moving average of $58.97. Aptiv has a 12 month low of $39.40 and a 12 month high of $88.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.33 and a current ratio of 2.02. The stock has a market capitalization of $8.20 billion, a P/E ratio of 10.88, a PEG ratio of 0.86 and a beta of 1.43.

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

Hedge Funds Weigh In On Aptiv

Several hedge funds and other institutional investors have recently modified their holdings of APTV. Russell Investments Group Ltd. lifted its holdings in Aptiv by 11.9% in the third quarter. Russell Investments Group Ltd. now owns 220,785 shares of the auto parts company’s stock worth $9,508,000 after buying an additional 23,488 shares during the period. Eurizon Capital SGR S.p.A. boosted its position in Aptiv by 6.2% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 110,399 shares of the auto parts company’s stock valued at $4,749,000 after acquiring an additional 6,465 shares in the last quarter. Alpha Wealth Funds LLC purchased a new position in shares of Aptiv during the 3rd quarter worth approximately $217,000. Maryland State Retirement & Pension System grew its holdings in shares of Aptiv by 8.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 11,920 shares of the auto parts company’s stock worth $513,000 after acquiring an additional 949 shares during the period. Finally, Jacobi Capital Management LLC raised its position in shares of Aptiv by 4.7% in the 3rd quarter. Jacobi Capital Management LLC now owns 16,307 shares of the auto parts company’s stock worth $702,000 after acquiring an additional 738 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Key Aptiv News

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.