Adient PLC (NYSE:ADNT)’s share price dropped 11.6% on Thursday . The company traded as low as $17.80 and last traded at $18.04. Approximately 3,647,579 shares changed hands during mid-day trading, an increase of 49% from the average daily volume of 2,445,132 shares. The stock had previously closed at $20.40.
ADNT has been the subject of a number of recent analyst reports. Bank of America raised Adient from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, April 12th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Adient in a research note on Thursday, February 7th. ValuEngine lowered Adient from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Buckingham Research lowered Adient from a “neutral” rating to an “underperform” rating and increased their price target for the company from $17.00 to $20.00 in a research note on Monday, April 22nd. Finally, Longbow Research reissued a “buy” rating and set a $28.00 price target on shares of Adient in a research note on Monday, January 28th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.85.
The company has a market cap of $1.68 billion, a P/E ratio of 3.20 and a beta of 2.76. The company has a quick ratio of 0.77, a current ratio of 0.98 and a debt-to-equity ratio of 1.28.
Several large investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Adient by 7.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 8,744,439 shares of the company’s stock valued at $113,328,000 after purchasing an additional 613,309 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Adient by 3.4% in the 4th quarter. BlackRock Inc. now owns 8,126,262 shares of the company’s stock valued at $122,382,000 after purchasing an additional 270,833 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Adient by 526.0% in the 4th quarter. Bank of America Corp DE now owns 3,487,956 shares of the company’s stock valued at $52,529,000 after purchasing an additional 2,930,768 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its stake in shares of Adient by 45.5% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 3,212,774 shares of the company’s stock valued at $41,638,000 after purchasing an additional 1,005,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Adient by 28.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,152,486 shares of the company’s stock valued at $32,419,000 after purchasing an additional 475,553 shares during the last quarter.
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About Adient (NYSE:ADNT)
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.
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