Adient (NYSE:ADNT) Sees Strong Trading Volume – Here’s Why

Adient plc (NYSE:ADNT) shares saw an uptick in trading volume on Monday . 2,138,597 shares changed 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 Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America cut shares of Adient from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $24.00 to $18.00 in a research note on Tuesday, March 4th. Barclays decreased their target price on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Morgan Stanley reduced their price target on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Monday, March 3rd. UBS Group lifted their price objective on Adient from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $27.00 to $20.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.88.

Adient Price Performance

The company has a 50 day simple moving average of $16.28 and a 200 day simple moving average of $18.71. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 697.30, a price-to-earnings-growth ratio of 0.34 and a beta of 2.27. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11.

Adient (NYSE:ADNT) last posted 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 last year, the company posted $0.31 EPS. As a group, research analysts predict that Adient plc will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Adient

A number of hedge funds have recently made changes to their positions in ADNT. Covestor Ltd increased its holdings in Adient by 10.6% in the 4th quarter. Covestor Ltd now owns 6,062 shares of the company’s stock valued at $104,000 after purchasing an additional 580 shares in the last quarter. Mariner LLC grew its stake in shares of Adient by 8.6% in the fourth quarter. Mariner LLC now owns 10,157 shares of the company’s stock valued at $175,000 after buying an additional 801 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Adient during the 4th quarter valued at about $25,000. Oarsman Capital Inc. lifted its position in Adient by 98.7% during the 4th quarter. Oarsman Capital Inc. now owns 2,966 shares of the company’s stock worth $51,000 after acquiring an additional 1,473 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Adient by 8.4% during the 3rd quarter. Victory Capital Management Inc. now owns 20,977 shares of the company’s stock worth $473,000 after acquiring an additional 1,633 shares in 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.