Adient plc (NYSE:ADNT) Sees Large Drop in Short Interest

Adient plc (NYSE:ADNTGet Free Report) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 4,190,000 shares, a drop of 12.0% from the August 15th total of 4,760,000 shares. Currently, 4.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,290,000 shares, the short-interest ratio is presently 3.2 days.

Wall Street Analyst Weigh In

ADNT has been the subject of several analyst reports. Bank of America dropped their price objective on shares of Adient from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. UBS Group dropped their price target on Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price target on shares of Adient in a research report on Tuesday, September 10th. Wells Fargo & Company cut their target price on Adient from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, June 25th. Finally, Barclays decreased their price target 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.25.

Check Out Our Latest Report on Adient

Adient Price Performance

ADNT traded up $0.03 on Wednesday, reaching $21.69. The stock had a trading volume of 1,289,072 shares, compared to its average volume of 1,131,655. The firm has a 50-day moving average of $22.73 and a 200-day moving average of $26.88. Adient has a fifty-two week low of $19.40 and a fifty-two week high of $38.63. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.53 and a beta of 2.16. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08.

Adient (NYSE:ADNTGet Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the business earned $0.98 EPS. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Adient will post 1.77 EPS for the current year.

Hedge Funds Weigh In On Adient

Hedge funds have recently modified their holdings of the business. Creative Planning boosted its holdings in Adient by 44.2% in the second quarter. Creative Planning now owns 15,417 shares of the company’s stock valued at $381,000 after acquiring an additional 4,728 shares during the last quarter. Algert Global LLC bought a new stake in shares of Adient in the 2nd quarter valued at $227,000. Susquehanna Fundamental Investments LLC grew its holdings in Adient by 85.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 152,940 shares of the company’s stock worth $3,779,000 after acquiring an additional 70,611 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of Adient by 86.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock worth $28,019,000 after acquiring an additional 525,280 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its stake in shares of Adient by 1,922.1% in the 2nd quarter. Dark Forest Capital Management LP now owns 148,520 shares of the company’s stock valued at $3,670,000 after purchasing an additional 141,175 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Company Profile

(Get Free Report)

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.

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