Adient (NYSE:ADNT) Trading Up 7.3% – What’s Next?

Adient plc (NYSE:ADNT)’s share price rose 7.3% during trading on Tuesday . The stock traded as high as $17.46 and last traded at $17.67. Approximately 181,733 shares changed hands during trading, a decline of 87% from the average daily volume of 1,418,413 shares. The stock had previously closed at $16.47.

Analyst Upgrades and Downgrades

Several analysts have commented on ADNT shares. Barclays lowered Adient from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th. UBS Group upped their price target on Adient from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Adient from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Citigroup started coverage on shares of Adient in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $14.00 price objective for the company. Finally, Wells Fargo & Company raised their price target on shares of Adient from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.22.

Adient Stock Performance

The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 884.50, a P/E/G ratio of 0.34 and a beta of 1.64. The firm’s 50 day moving average price is $13.46 and its 200-day moving average price is $15.61. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.33. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts anticipate that Adient plc will post 1.76 earnings per share for the current year.

Institutional Trading of Adient

A number of institutional investors and hedge funds have recently modified their holdings of ADNT. Inspire Investing LLC acquired a new stake in Adient during the first quarter worth $342,000. Strs Ohio acquired a new position in shares of Adient in the 1st quarter valued at $585,000. Plato Investment Management Ltd bought a new stake in Adient during the 1st quarter worth approximately $67,000. SageView Advisory Group LLC raised its holdings in shares of Adient by 25.2% in the first quarter. SageView Advisory Group LLC now owns 50,912 shares of the company’s stock valued at $655,000 after purchasing an additional 10,251 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Adient by 2.1% during the first quarter. Empowered Funds LLC now owns 316,292 shares of the company’s stock worth $4,068,000 after acquiring an additional 6,401 shares in the last quarter. 92.44% of the stock is currently 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.