Adient (NYSE:ADNT) Shares Gap Up – Here’s What Happened

Shares of Adient plc (NYSE:ADNT) gapped up prior to trading on Tuesday . The stock had previously closed at $17.31, but opened at $18.02. Adient shares last traded at $18.21, with a volume of 305,276 shares trading hands.

Analyst Ratings Changes

ADNT has been the topic of several recent research reports. Morgan Stanley cut their price target on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Bank of America downgraded Adient from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $24.00 in a report on Thursday, November 21st. Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $27.00 to $20.00 in a report on Monday, December 16th. JPMorgan Chase & Co. cut their price target on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday. Finally, StockNews.com downgraded Adient from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.38.

Adient Trading Up 4.0 %

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 78.28, a PEG ratio of 0.28 and a beta of 2.16. 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 business has a 50-day moving average of $18.05 and a 200-day moving average of $20.66.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Adient had a return on equity of 6.86% and a net margin of 0.12%. During the same period last year, the firm earned $0.31 EPS. As a group, research analysts forecast that Adient plc will post 2.04 EPS for the current year.

Insider Activity

In related news, EVP James Conklin sold 11,500 shares of the firm’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 value of $232,875.00. Following the completion of the transaction, the executive vice president now directly owns 51,829 shares of the company’s stock, valued at $1,049,537.25. This trade represents a 18.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Adient

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Adient during the fourth quarter worth $32,000. US Bancorp DE boosted its holdings in shares of Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after purchasing an additional 1,588 shares during the last quarter. Versant Capital Management Inc boosted its holdings 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 purchasing an additional 1,857 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after purchasing an additional 1,822 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after acquiring an additional 1,136 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.