Adient (NYSE:ADNT) Issues Quarterly Earnings Results

Adient (NYSE:ADNT) released its quarterly earnings data on Friday. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15, Briefing.com reports. Adient had a return on equity of 7.90% and a net margin of 1.39%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same period last year, the business posted $0.32 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Adient updated its FY 2024 guidance to EPS.

Adient Stock Down 9.3 %

Shares of Adient stock traded down $2.81 during trading hours on Friday, hitting $27.41. 2,258,260 shares of the company’s stock traded hands, compared to its average volume of 1,106,294. The stock has a 50 day simple moving average of $31.82 and a 200-day simple moving average of $33.31. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.92. The company has a market cap of $2.50 billion, a PE ratio of 12.24, a PEG ratio of 0.31 and a beta of 2.39. Adient has a twelve month low of $26.97 and a twelve month high of $46.51.

Wall Street Analysts Forecast Growth

ADNT has been the topic of a number of recent research reports. Bank of America reduced their price target on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company reduced their price objective on Adient from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. Finally, Barclays reiterated an “equal weight” rating and set a $37.00 target price (down from $41.00) on shares of Adient in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.43.

Insider Activity

In other news, EVP Heather M. Tiltmann sold 10,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total transaction of $336,800.00. Following the transaction, the executive vice president now owns 55,669 shares of the company’s stock, valued at $1,874,931.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% 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.