Delphi Technologies (DLPH) Raised to “Hold” at Zacks Investment Research

Delphi Technologies (NYSE:DLPH) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued 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.”

A number of other research analysts also recently commented on DLPH. Barclays reduced their price target on Delphi Technologies from $62.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 9th. Robert W. Baird reduced their price target on Delphi Technologies from $65.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. Buckingham Research reduced their price target on Delphi Technologies from $58.00 to $48.00 and set a “neutral” rating for the company in a report on Friday, August 10th. Guggenheim reissued a “buy” rating and issued a $54.00 price target on shares of Delphi Technologies in a report on Thursday, August 9th. Finally, Oppenheimer reduced their price target on Delphi Technologies from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $35.60.

Shares of NYSE DLPH opened at $16.71 on Wednesday. Delphi Technologies has a 1-year low of $16.01 and a 1-year high of $60.39. The company has a quick ratio of 1.11, a current ratio of 1.55 and a debt-to-equity ratio of 4.09. The stock has a market capitalization of $1.48 billion and a PE ratio of 3.24.

Delphi Technologies (NYSE:DLPH) last issued its earnings results on Wednesday, November 7th. The company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Delphi Technologies had a return on equity of 132.68% and a net margin of 5.61%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $1.25 EPS. Delphi Technologies’s quarterly revenue was down 3.8% on a year-over-year basis. On average, research analysts anticipate that Delphi Technologies will post 4.24 EPS for the current fiscal year.

In other news, Director Robin J. Adams acquired 5,000 shares of the business’s stock in a transaction on Friday, November 16th. The shares were purchased at an average price of $16.79 per share, for a total transaction of $83,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph R. Massaro sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $86.24, for a total value of $241,472.00. Following the sale, the chief financial officer now owns 91,734 shares in the company, valued at approximately $7,911,140.16. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in DLPH. Artisan Partners Limited Partnership raised its stake in Delphi Technologies by 50.5% during the second quarter. Artisan Partners Limited Partnership now owns 4,301,033 shares of the company’s stock valued at $195,525,000 after buying an additional 1,444,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Delphi Technologies by 30.9% during the second quarter. Bank of New York Mellon Corp now owns 3,997,567 shares of the company’s stock valued at $181,729,000 after buying an additional 943,977 shares in the last quarter. Morgan Stanley raised its stake in Delphi Technologies by 235.1% during the third quarter. Morgan Stanley now owns 913,552 shares of the company’s stock valued at $28,649,000 after buying an additional 640,937 shares in the last quarter. Millennium Management LLC raised its stake in Delphi Technologies by 66.1% during the second quarter. Millennium Management LLC now owns 1,115,230 shares of the company’s stock valued at $50,698,000 after buying an additional 443,654 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Delphi Technologies by 22.3% during the third quarter. Janus Henderson Group PLC now owns 2,275,425 shares of the company’s stock valued at $71,357,000 after buying an additional 414,550 shares in the last quarter. Hedge funds and other institutional investors own 88.33% of the company’s stock.

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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