Short Interest in Aptiv PLC (NYSE:APTV) Drops By 45.4%

Aptiv PLC (NYSE:APTV - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 5,370,000 shares, a drop of 45.4% from the May 15th total of 9,830,000 shares. Based on an average daily volume of 3,090,000 shares, the short-interest ratio is currently 1.7 days. Approximately 2.5% of the company's shares are short sold.

Aptiv Stock Performance

NYSE:APTV traded down $2.55 during trading hours on Friday, reaching $67.13. The company had a trading volume of 2,103,225 shares, compared to its average volume of 3,484,126. Aptiv has a 1-year low of $47.19 and a 1-year high of $80.95. The firm has a market cap of $14.62 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 0.62 and a beta of 1.47. The business's 50 day moving average price is $61.06 and its 200-day moving average price is $61.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 1.07.

Aptiv (NYSE:APTV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The auto parts company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.55 by $0.14. Aptiv had a return on equity of 15.63% and a net margin of 9.07%. The firm had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts forecast that Aptiv will post 7.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of APTV. Zions Bancorporation National Association UT acquired a new stake in shares of Aptiv in the 1st quarter valued at approximately $26,000. 1248 Management LLC acquired a new stake in shares of Aptiv in the 1st quarter valued at approximately $28,000. Geneos Wealth Management Inc. lifted its holdings in shares of Aptiv by 452.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 486 shares of the auto parts company's stock valued at $29,000 after buying an additional 398 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Aptiv in the 4th quarter valued at approximately $37,000. Finally, Mather Group LLC. lifted its holdings in shares of Aptiv by 155.2% in the 1st quarter. Mather Group LLC. now owns 633 shares of the auto parts company's stock valued at $38,000 after buying an additional 385 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group raised their price target on Aptiv from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their price target on Aptiv from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Robert W. Baird dropped their price target on Aptiv from $84.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen assumed coverage on Aptiv in a research note on Thursday, May 22nd. They issued a "hold" rating for the company. Finally, Morgan Stanley dropped their price target on Aptiv from $60.00 to $55.00 and set an "underweight" rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.50.

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.