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

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

Wall Street Analysts Forecast Growth

APTV has been the topic of several analyst reports. Oppenheimer reissued an “outperform” rating and set a $145.00 target price on shares of Aptiv in a report on Tuesday, July 9th. Barclays dropped their price objective on Aptiv from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Piper Sandler downgraded Aptiv from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $78.00 to $63.00 in a research report on Wednesday, June 26th. JPMorgan Chase & Co. increased their target price on Aptiv from $104.00 to $107.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Bank of America lowered their price objective on Aptiv from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Aptiv presently has a consensus rating of “Moderate Buy” and an average target price of $95.13.

Aptiv Price Performance

Aptiv stock traded up $0.39 during midday trading on Wednesday, hitting $70.39. 2,512,288 shares of the company’s stock were exchanged, compared to its average volume of 2,964,894. The stock has a 50-day moving average price of $69.93 and a two-hundred day moving average price of $73.11. Aptiv has a 52-week low of $63.62 and a 52-week high of $98.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.49. The company has a market cap of $19.15 billion, a P/E ratio of 6.60, a PEG ratio of 0.65 and a beta of 1.79.

Aptiv (NYSE:APTV) last posted its quarterly earnings data on Thursday, August 1st. The auto parts company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The firm had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the business earned $1.25 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Aptiv will post 6.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Broderick Brian C boosted its stake in shares of Aptiv by 0.6% in the 1st quarter. Broderick Brian C now owns 21,728 shares of the auto parts company’s stock worth $1,731,000 after buying an additional 132 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in shares of Aptiv by 44.3% in the third quarter. Wolff Wiese Magana LLC now owns 505 shares of the auto parts company’s stock valued at $36,000 after acquiring an additional 155 shares in the last quarter. Signaturefd LLC lifted its position in shares of Aptiv by 6.2% in the second quarter. Signaturefd LLC now owns 2,682 shares of the auto parts company’s stock valued at $189,000 after acquiring an additional 156 shares in the last quarter. Mather Group LLC. lifted its position in shares of Aptiv by 36.9% in the third quarter. Mather Group LLC. now owns 653 shares of the auto parts company’s stock valued at $47,000 after acquiring an additional 176 shares in the last quarter. Finally, Crewe Advisors LLC increased its holdings in shares of Aptiv by 94.7% in the second quarter. Crewe Advisors LLC now owns 442 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 215 shares during the last quarter. Institutional investors 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.