Delphi Technologies (DLPH) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Delphi Technologies (NYSE:DLPH) from a strong sell rating to a hold rating in a report released on Wednesday morning.
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.”
Several other research firms have also recently commented on DLPH. Robert W. Baird decreased their price target on shares of Delphi Technologies from $65.00 to $53.00 and set an outperform rating on the stock in a research note on Thursday, August 9th. BMO Capital Markets set a $60.00 price target on shares of Delphi Technologies and gave the company a buy rating in a research note on Thursday, August 9th. Oppenheimer decreased their price target on shares of Delphi Technologies from $53.00 to $52.00 and set an outperform rating on the stock in a research note on Thursday, August 9th. Barclays decreased their price target on shares of Delphi Technologies from $62.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, August 9th. Finally, Guggenheim reissued a buy rating and set a $54.00 price target on shares of Delphi Technologies in a research note on Thursday, August 9th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $35.60.
Delphi Technologies (NYSE:DLPH) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $1.25 earnings per share. Delphi Technologies’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts predict that Delphi Technologies will post 4.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Tuesday, November 6th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 4.17%. Delphi Technologies’s payout ratio is presently 13.20%.
In other Delphi Technologies news, Director Robin J. Adams acquired 5,000 shares of Delphi Technologies stock in a transaction on Friday, November 16th. The shares were purchased at an average cost of $16.79 per share, with a total value of $83,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph R. Massaro sold 2,800 shares of the firm’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 transaction of $241,472.00. Following the completion of the transaction, the chief financial officer now directly owns 91,734 shares in the company, valued at $7,911,140.16. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted 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 acquiring an additional 245,516 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in Delphi Technologies by 50.5% in the second quarter. Artisan Partners Limited Partnership now owns 4,301,033 shares of the company’s stock valued at $195,525,000 after acquiring an additional 1,444,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Delphi Technologies by 30.9% in 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 acquiring an additional 943,977 shares during the last quarter. Standard Life Aberdeen plc boosted its stake in Delphi Technologies by 13.7% in the second quarter. Standard Life Aberdeen plc now owns 2,313,870 shares of the company’s stock valued at $105,154,000 after acquiring an additional 279,201 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Delphi Technologies by 22.3% in the third quarter. Janus Henderson Group PLC now owns 2,275,425 shares of the company’s stock valued at $71,357,000 after acquiring an additional 414,550 shares during the last quarter. 88.33% of the stock is currently owned by hedge funds and other 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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