For most investors, the auto industry was seen to be relatively quiet and boring until recently. Cars are becoming high-tech machines due to the rise of electric vehicles and autonomous driving. Some of the up-and-coming players in the space are becoming really excited about these technologies. A major reason for all this interest in innovative auto stocks is that the nature of the car business is changing. It is no longer sufficient to have a vehicle that performs well mechanically. Besides, you must integrate cutting-edge technology into every facet of that experience as well.
As well, Tesla (NASDAQ: TSLA) saw its stock soar during 2020, with more young EV wannabes following in Tesla’s footsteps in a frenzy of IPOs and SPACs to raise money from an eager public. Even though some of the EV stocks have gotten ahead of themselves in the long term, many haven’t. The market cap of several companies now exceeds billions, despite very little revenue so far.
Aptiv PLC (NYSE:APTV) shares were trading down -0.79% at $123.32 at the time of writing on Monday.
Aptiv PLC (NYSE:APTV) share price went from a low point around $29.22 to briefly over $125.76 in past 52 weeks, though shares have since pulled back to $123.32. APTV market cap has remained high, hitting $33.46B at the time of writing, giving it price-to-sales ratio of more than 2.
If we look at the recent analyst rating APTV, KeyBanc Capital Markets downgraded coverage on APTV shares with a Sector weight rating and a $120.32 price target, which implies room for -3.0% downside momentum this year.
American Axle & Manufacturing Holdings Inc. (AXL) last closed at $7.73, in a 52-week range of $2.50 to $10.99. Analysts have a consensus price target of $9.00.
BorgWarner Inc. (BWA) stock drop by -0.21% to $38.54. On December 2, 2020, the company reported that it been awarded on Newsweek’s list of America’s Most Responsible Companies 2021. The most recent rating by Wolfe Research, on November 12, 2020, is at a Peer perform.
Dana Incorporated (NYSE:DAN) Shares headed falling, lower as much as -0.31%. The company on December 7, 2020 declared that it was named one of “America’s Most Responsible Companies 2021” by Newsweek Magazine. The most recent rating by Barclays, on December 17, 2020, is at an Equal weight.
Foresight Autonomous Holdings Ltd. (NASDAQ:FRSX) fall 0.00% after losing more than $0.0 on Monday. The firm recently revealed that the it will join the University of Michigan’s TechLab at Mcity 2021 startup cohort, managed by the Center for Entrepreneurship.
Gentex Corporation (GNTX) last closed at $33.51, in a 52-week range of $19.48 to $34.01. The BOD of the company on December 2, 2020 announce fourth quarter 2020 cash dividend. Analysts have a consensus price target of $34.97.
The Goodyear Tire & Rubber Company (GT) stock drop by -1.44% to $10.29. The company and SafeAI, on December 10, 2020 reported a strategic relationship to incorporate tire intelligence into the programming of autonomous heavy equipment vehicles. The most recent rating by Morgan Stanley, on December 11, 2020, is at an Equal-weight.
Hyliion Holdings Corp. (NYSE:HYLN) Shares headed falling, lower as much as -1.83%. The most recent rating by Barclays, on December 16, 2020, is at an Overweight.
LKQ Corporation (NASDAQ:LKQ) fall -0.64% after losing more than -$0.23 on Monday.
QuantumScape Corporation (QS) last closed at $94.90, in a 52-week range of $9.74 to $87.50. The company on December 8, 2020 released performance data for its solid-state battery technology. Analysts have a consensus price target of $28.00.
Tenneco Inc. (TEN) stock soar by 0.10% to $9.83. The company on December 9, 2020 revealed that it has been named to Newsweek’s 2021 list of America’s Most Responsible Companies. The most recent rating by JP Morgan, on April 02, 2020, is at a Neutral.
Westport Fuel Systems Inc. (NASDAQ:WPRT) Shares headed falling, lower as much as -0.59%. The most recent rating by Lake Street, on May 10, 2019, is at a Buy.