On August 7, Aptiv PLC rose 5.19% in regular trading, trading at $48.25/share, with turnover of $39.42 million. The stock experienced a technical rebound following a steep 14.82% selloff on August 4 triggered by disappointing Q2 guidance.
On August 4, the company reported Q2 adjusted EPS of $1.63, beating the $1.42 consensus estimate, but net sales of $3.27 billion missed the $3.31 billion expectation. More critically, Aptiv slashed its full-year adjusted EPS guidance to $5.60-$5.80 from $5.70-$6.10, and cut net sales outlook to $12.60-$12.80 billion from $12.80-$13.20 billion, both significantly below analyst expectations of $5.91 and $13.27 billion respectively. Q3 guidance of $1.25-$1.35 adjusted EPS also fell far short of the $1.60 consensus.
Following the selloff, Morgan Stanley downgraded Aptiv to Equalweight and set a $55 target, while Baird lowered its target to $59. With the stock now trading well below multiple institutional price targets, the market appears to be experiencing a technical recovery from oversold levels.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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