Adient (NYSE:ADNT) Shares Up 5.7%

Adient PLC (NYSE:ADNT)’s stock price shot up 5.7% on Friday . The company traded as high as $22.86 and last traded at $22.70, 1,534,800 shares changed hands during mid-day trading. A decline of 30% from the average session volume of 2,198,561 shares. The stock had previously closed at $21.47.

A number of research firms have recently weighed in on ADNT. Longbow Research downgraded shares of Adient from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. UBS Group set a $30.00 target price on shares of Adient and gave the stock a “buy” rating in a research report on Wednesday, August 7th. ValuEngine upgraded shares of Adient from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 6th. Royal Bank of Canada upped their price target on shares of Adient to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, Buckingham Research set a $19.00 price target on shares of Adient and gave the stock a “sell” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.47.

The company has a market cap of $2.01 billion, a P/E ratio of 4.04 and a beta of 3.19. The stock’s 50 day moving average is $22.88 and its 200-day moving average is $20.11. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.07. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Adient had a negative net margin of 11.00% and a positive return on equity of 8.35%. Adient’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 EPS. As a group, sell-side analysts forecast that Adient PLC will post 1.35 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Glen Harbor Capital Management LLC lifted its stake in Adient by 2.2% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 20,570 shares of the company’s stock valued at $499,000 after acquiring an additional 442 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Adient by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,186 shares of the company’s stock valued at $854,000 after acquiring an additional 497 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Adient by 6.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,675 shares of the company’s stock valued at $235,000 after acquiring an additional 545 shares during the period. Greenwich Wealth Management LLC lifted its stake in Adient by 1.3% during the 2nd quarter. Greenwich Wealth Management LLC now owns 42,150 shares of the company’s stock valued at $1,023,000 after acquiring an additional 550 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in Adient by 0.5% during the 1st quarter. Retirement Systems of Alabama now owns 113,231 shares of the company’s stock valued at $1,467,000 after acquiring an additional 614 shares during the period. Institutional investors own 97.75% of the company’s stock.

Adient Company Profile (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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