Adient (NYSE:ADNT) Shares Down 5.4% on Insider Selling

Adient plc (NYSE:ADNT)’s share price traded down 5.4% during trading on Thursday following insider selling activity. The company traded as low as $19.17 and last traded at $19.23. 311,273 shares traded hands during trading, a decline of 75% from the average session volume of 1,227,615 shares. The stock had previously closed at $20.32.

Specifically, EVP James Conklin sold 11,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the sale, the executive vice president now owns 51,829 shares in the company, valued at $1,049,537.25. This represents a 18.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADNT shares. Wolfe Research began coverage on shares of Adient in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America lowered shares of Adient from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $30.00 to $24.00 in a research note on Thursday, November 21st. Wells Fargo & Company cut their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley dropped their price objective on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.38.

Adient Stock Performance

The company’s fifty day simple moving average is $20.67 and its two-hundred day simple moving average is $22.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a market capitalization of $1.64 billion, a P/E ratio of 83.83, a PEG ratio of 0.34 and a beta of 2.15.

Adient (NYSE:ADNT) last announced its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. As a group, equities analysts forecast that Adient plc will post 2.04 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ADNT. CWM LLC increased its holdings in shares of Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares during the period. US Bancorp DE boosted its stake in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after buying an additional 1,588 shares during the period. Signaturefd LLC grew its position in Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after buying an additional 1,822 shares in the last quarter. KBC Group NV increased its stake in Adient by 51.8% during the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after acquiring an additional 1,136 shares during the period. Finally, Covestor Ltd raised its holdings in Adient by 23.2% in the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after acquiring an additional 1,032 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

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.