Adient (NYSE:ADNT) Trading Up 4.1% – Here’s What Happened

Shares of Adient plc (NYSE:ADNT) rose 4.1% on Tuesday . The company traded as high as $14.46 and last traded at $14.53. Approximately 1,860,545 shares were traded during trading, an increase of 21% from the average daily volume of 1,541,978 shares. The stock had previously closed at $13.96.

Analyst Ratings Changes

A number of research firms have commented on ADNT. JPMorgan Chase & Co. reduced their price objective on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. UBS Group increased their price objective on shares of Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Bank of America lowered shares of Adient from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $24.00 to $18.00 in a research report on Tuesday, March 4th. StockNews.com lowered shares of Adient from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price objective on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.88.

Adient Price Performance

The company has a 50-day moving average price of $16.11 and a 200-day moving average price of $18.58. The firm has a market capitalization of $1.14 billion, a P/E ratio of 676.25, a price-to-earnings-growth ratio of 0.34 and a beta of 2.27. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08.

Adient (NYSE:ADNT) last posted its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same period last year, the business earned $0.31 EPS. On average, sell-side analysts predict that Adient plc will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in Adient during the 4th quarter worth $25,000. R Squared Ltd acquired a new stake in shares of Adient during the fourth quarter worth about $32,000. Versant Capital Management Inc lifted its holdings in shares of Adient by 10,316.7% during the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock valued at $32,000 after purchasing an additional 1,857 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Adient by 6,924.2% during the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock valued at $40,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Adient by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,738 shares of the company’s stock valued at $47,000 after purchasing an additional 2,435 shares during the period. 92.44% of the stock is owned by institutional investors.

About Adient

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.