Delphi Technologies (NYSE:DLPH) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Delphi Technologies looks strong on the back of its vast geographic presence. The company is highly optimistic about opportunities from the Asia Pacific. Regional presence coupled with its diversified and innovative product portfolio with updated technologies strengthen its client base. The aftermarket business generates stable recurring revenues. Despite such positives, the company's operation in the global automotive component supply industry remains a concern. The industry is subject to stiff competition, rapid technological changes, short product life cycles and cyclical and reduced consumer demand patterns. High debt and seasonality are other major headwinds. The company has underperformed its industry in the past year.”
Other analysts also recently issued reports about the company. Morgan Stanley decreased their target price on Delphi Technologies from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, August 13th. Guggenheim reiterated a “buy” rating and set a $54.00 target price on shares of Delphi Technologies in a research report on Thursday, August 9th. BMO Capital Markets set a $60.00 target price on Delphi Technologies and gave the stock a “buy” rating in a research report on Thursday, August 9th. Wells Fargo & Co reiterated a “buy” rating on shares of Delphi Technologies in a research report on Wednesday, November 7th. Finally, Barclays set a $25.00 target price on Delphi Technologies and gave the stock a “buy” rating in a research report on Thursday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $35.60.
Delphi Technologies (NYSE:DLPH) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Delphi Technologies had a net margin of 5.61% and a return on equity of 132.68%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Delphi Technologies will post 4.24 earnings per share for the current fiscal year.
In other news, CFO Joseph R. Massaro sold 2,800 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $86.24, for a total value of $241,472.00. Following the completion of the transaction, the chief financial officer now directly owns 91,734 shares of the company’s stock, valued at $7,911,140.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robin J. Adams purchased 5,000 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was bought at an average cost of $16.79 per share, with a total value of $83,950.00. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its stake in Delphi Technologies by 36.6% in the third quarter. Clearbridge Investments LLC now owns 827,830 shares of the company’s stock valued at $25,961,000 after purchasing an additional 221,952 shares during the last quarter. Vanguard Group Inc. increased its stake in Delphi Technologies by 3.2% in the third quarter. Vanguard Group Inc. now owns 7,909,445 shares of the company’s stock valued at $248,041,000 after purchasing an additional 245,516 shares during the last quarter. Morgan Stanley increased its stake in Delphi Technologies by 235.1% in the third quarter. Morgan Stanley now owns 913,552 shares of the company’s stock valued at $28,649,000 after purchasing an additional 640,937 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in Delphi Technologies by 4,307.2% in the third quarter. Rehmann Capital Advisory Group now owns 4,892 shares of the company’s stock valued at $156,000 after purchasing an additional 4,781 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new position in Delphi Technologies in the third quarter valued at $7,290,000. 88.33% of the stock is owned by institutional investors.
Delphi Technologies Company Profile
Delphi Technologies PLC engages in the design, development, and manufacture of integrated powertrain technologies worldwide. The company operates through two segments, Powertrain Systems and Delphi Technologies Aftermarket. The Powertrain Systems segment provides fuel injection systems, as well as other powertrain products comprising valvetrain, fuel delivery modules, ignition coils, canisters, sensors, valves, and actuators; and electronic control modules with the corresponding software, algorithms, and calibration that provide centralized management of various powertrain components.
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