Adient (NYSE:ADNT) Sees Strong Trading Volume

Adient plc (NYSE:ADNT) shares saw unusually-strong trading volume on Thursday . Approximately 2,889,704 shares were traded during mid-day trading, an increase of 154% from the previous session’s volume of 1,136,189 shares.The stock last traded at $21.94 and had previously closed at $21.31.

Analyst Ratings Changes

Several analysts recently commented on ADNT shares. Wells Fargo & Company decreased their price target on shares of Adient from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price for the company in a research note on Monday, July 1st. JPMorgan Chase & Co. dropped their price target on shares of Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley reduced their price objective on Adient from $32.00 to $21.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Barclays lowered their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Adient Stock Up 1.7 %

The company has a market cap of $2.00 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.46 and a beta of 2.19. The business has a 50-day simple moving average of $24.38 and a two-hundred day simple moving average of $28.97. The company has a quick ratio of 0.91, a current ratio of 1.13 and a debt-to-equity ratio of 1.00.

Adient (NYSE:ADNT) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.30). Adient had a return on equity of 8.72% and a net margin of 1.04%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities analysts forecast that Adient plc will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after acquiring an additional 443 shares during the period. Partnership Wealth Management LLC bought a new position in Adient in the 4th quarter worth approximately $83,000. Covestor Ltd lifted its holdings in shares of Adient by 201.5% during the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after buying an additional 2,210 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Adient in the first quarter valued at approximately $135,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Adient in the first quarter worth $159,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Company Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.