Adient (NYSE:ADNT) Sees Unusually-High Trading Volume – Here’s What Happened

Adient plc (NYSE:ADNT) saw unusually-strong trading volume on Monday . Approximately 2,138,597 shares traded hands during mid-day trading, an increase of 51% from the previous session’s volume of 1,414,510 shares.The stock last traded at $13.71 and had previously closed at $13.92.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADNT. Bank of America downgraded Adient from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $24.00 to $18.00 in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price objective on Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. UBS Group lifted their price objective on Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company cut Adient from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $27.00 to $20.00 in a research note on Monday, December 16th. Finally, Morgan Stanley cut their price target on shares of Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, Adient has an average rating of “Hold” and an average target price of $20.88.

Adient Stock Up 0.3 %

The stock’s fifty day simple moving average is $16.28 and its two-hundred day simple moving average is $18.71. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 697.30, a PEG ratio of 0.34 and a beta of 2.27.

Adient (NYSE:ADNT) last issued its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.31 earnings per share. On average, sell-side analysts predict that Adient plc will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

Large investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. increased its holdings in shares of Adient by 44.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 13,318 shares of the company’s stock worth $229,000 after acquiring an additional 4,077 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Adient by 105.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 369,035 shares of the company’s stock worth $6,358,000 after purchasing an additional 189,574 shares during the last quarter. Vident Advisory LLC acquired a new stake in shares of Adient in the fourth quarter valued at approximately $463,000. Twinbeech Capital LP bought a new stake in shares of Adient during the fourth quarter valued at approximately $372,000. Finally, State of Wyoming boosted its position in Adient by 145.7% during the 4th quarter. State of Wyoming now owns 15,912 shares of the company’s stock worth $274,000 after acquiring an additional 9,435 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

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.