Aptiv PLC (NYSE:APTV) Sees Large Decrease in Short Interest

Aptiv PLC (NYSE:APTV) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 29,080,000 shares, a decrease of 7.9% from the September 15th total of 31,590,000 shares. Currently, 11.0% of the company’s stock are short sold. Based on an average daily volume of 3,350,000 shares, the days-to-cover ratio is presently 8.7 days.

Analyst Ratings Changes

A number of analysts have commented on APTV shares. UBS Group cut their price target on shares of Aptiv from $107.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Oppenheimer reiterated an “outperform” rating and issued a $145.00 target price on shares of Aptiv in a research report on Tuesday, July 9th. Wolfe Research assumed coverage on shares of Aptiv in a research note on Thursday, September 5th. They issued an “outperform” rating and a $89.00 price objective on the stock. Evercore ISI decreased their price objective on Aptiv from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 15th. Finally, Fox Advisors cut shares of Aptiv from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.13.

Institutional Trading of Aptiv

Hedge funds and other institutional investors have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in Aptiv during the first quarter worth about $25,000. Independence Bank of Kentucky bought a new stake in shares of Aptiv during the 2nd quarter valued at $25,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Aptiv during the 1st quarter valued at $28,000. Crewe Advisors LLC raised its position in shares of Aptiv by 94.7% during the 2nd quarter. Crewe Advisors LLC now owns 442 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 215 shares during the last quarter. Finally, Clearstead Trust LLC grew its holdings in shares of Aptiv by 305.0% in the 1st quarter. Clearstead Trust LLC now owns 405 shares of the auto parts company’s stock valued at $32,000 after buying an additional 305 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Aptiv Stock Up 0.6 %

Shares of NYSE:APTV traded up $0.39 during trading on Wednesday, hitting $70.39. The company’s stock had a trading volume of 2,512,288 shares, compared to its average volume of 2,964,894. The stock’s 50-day moving average price is $69.93 and its two-hundred day moving average price is $73.11. Aptiv has a fifty-two week low of $63.62 and a fifty-two week high of $98.28. The company has a market capitalization of $19.15 billion, a PE ratio of 6.60, a PEG ratio of 0.65 and a beta of 1.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.49.

Aptiv (NYSE:APTV) last issued its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.16. The company had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. As a group, sell-side analysts expect that Aptiv will post 6.28 EPS for the current year.

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.