Aptiv PLC (NYSE:APTV) Sees Significant Increase in Short Interest

Aptiv PLC (NYSE:APTV) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 36,460,000 shares, an increase of 358.0% from the July 31st total of 7,960,000 shares. Currently, 13.8% of the shares of the stock are sold short. Based on an average trading volume of 3,400,000 shares, the days-to-cover ratio is currently 10.7 days.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 394 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $76.98, for a total value of $30,330.12. Following the completion of the sale, the director now owns 13,636 shares in the company, valued at approximately $1,049,699.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aptiv

Institutional investors have recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Aptiv during the 1st quarter valued at approximately $25,000. Independence Bank of Kentucky purchased a new stake in Aptiv in the 2nd quarter worth $25,000. Hazlett Burt & Watson Inc. purchased a new stake in Aptiv in the 1st quarter worth $28,000. Crewe Advisors LLC increased its holdings in Aptiv by 94.7% in the 2nd quarter. Crewe Advisors LLC now owns 442 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 215 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Aptiv in the 4th quarter worth $32,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Aptiv Stock Performance

NYSE APTV traded down $1.26 on Tuesday, hitting $70.83. 5,515,754 shares of the company’s stock traded hands, compared to its average volume of 2,958,557. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. Aptiv has a 1-year low of $65.13 and a 1-year high of $104.72. The firm’s 50-day moving average price is $70.10 and its two-hundred day moving average price is $75.30. The firm has a market capitalization of $19.27 billion, a PE ratio of 6.68, a P/E/G ratio of 0.66 and a beta of 1.79.

Aptiv (NYSE:APTV) last announced its quarterly earnings data on Thursday, August 1st. The auto parts company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.42 by $0.16. Aptiv had a net margin of 18.46% and a return on equity of 13.19%. The business had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that Aptiv will post 6.3 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Nomura Securities raised shares of Aptiv from a “strong sell” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley cut their target price on shares of Aptiv from $75.00 to $70.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 14th. Robert W. Baird cut their target price on shares of Aptiv from $90.00 to $83.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Oppenheimer reissued an “outperform” rating and set a $145.00 target price on shares of Aptiv in a research report on Tuesday, July 9th. Finally, Guggenheim raised their target price on shares of Aptiv from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Aptiv currently has an average rating of “Moderate Buy” and a consensus target price of $96.64.

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.