Adient (NYSE:ADNT) Trading 4.1% Higher – Here’s Why

Adient plc (NYSE:ADNT) shares were up 4.1% during trading on Tuesday . The company traded as high as $14.46 and last traded at $14.53. Approximately 1,860,545 shares traded hands during trading, an increase of 21% from the average daily volume of 1,541,978 shares. The stock had previously closed at $13.96.

Wall Street Analysts Forecast Growth

ADNT has been the topic of several research reports. Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $27.00 to $20.00 in a research report on Monday, December 16th. Bank of America cut shares of Adient from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $24.00 to $18.00 in a research note on Tuesday, March 4th. Morgan Stanley reduced 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. UBS Group increased their price objective on shares of Adient from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Adient from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus target price of $20.88.

Adient Stock Performance

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 733.00, a PEG ratio of 0.34 and a beta of 2.27. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The firm’s 50-day moving average price is $16.21 and its two-hundred day moving average price is $18.65.

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

Hedge Funds Weigh In On Adient

Several institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in shares of Adient during the 4th quarter worth approximately $25,000. Versant Capital Management Inc increased its position in shares of Adient by 10,316.7% during the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after acquiring an additional 1,857 shares during the last quarter. R Squared Ltd acquired a new position in shares of Adient in the 4th quarter valued at approximately $32,000. IFP Advisors Inc grew its stake in Adient by 6,924.2% in the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock worth $40,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Adient by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,738 shares of the company’s stock valued at $47,000 after buying an additional 2,435 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Company Profile

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.