Traders Buy Large Volume of Call Options on Adient (ADNT)

Adient PLC (NYSE:ADNT) was the recipient of unusually large options trading on Thursday. Traders acquired 9,815 call options on the stock. This represents an increase of 2,081% compared to the typical volume of 450 call options.

Shares of NYSE ADNT opened at $13.95 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 2.48, a price-to-earnings-growth ratio of 0.54 and a beta of 2.17. Adient has a 12 month low of $13.87 and a 12 month high of $67.10.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Thursday, February 7th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.17). The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.17 billion. Adient had a positive return on equity of 13.15% and a negative net margin of 8.54%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, research analysts forecast that Adient will post 2.32 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. increased its position in Adient by 0.3% in the 4th quarter. American International Group Inc. now owns 177,164 shares of the company’s stock worth $2,668,000 after buying an additional 523 shares during the period. Arizona State Retirement System increased its position in Adient by 1.1% in the 4th quarter. Arizona State Retirement System now owns 62,342 shares of the company’s stock worth $939,000 after buying an additional 684 shares during the period. D.A. Davidson & CO. increased its position in Adient by 7.4% in the 4th quarter. D.A. Davidson & CO. now owns 10,306 shares of the company’s stock worth $155,000 after buying an additional 709 shares during the period. Commonwealth Bank of Australia increased its position in Adient by 3.6% in the 4th quarter. Commonwealth Bank of Australia now owns 25,913 shares of the company’s stock worth $390,000 after buying an additional 900 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Adient by 6.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 22,060 shares of the company’s stock worth $332,000 after buying an additional 1,299 shares during the period.

Several equities research analysts recently weighed in on the company. Goldman Sachs Group restated a “hold” rating on shares of Adient in a report on Wednesday, January 16th. KeyCorp assumed coverage on Adient in a report on Monday, December 10th. They issued an “underweight” rating and a $18.00 target price for the company. Seaport Global Securities assumed coverage on Adient in a report on Wednesday, February 13th. They issued a “neutral” rating for the company. Royal Bank of Canada lowered Adient from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $17.00 to $16.00 in a report on Wednesday, January 23rd. They noted that the move was a valuation call. Finally, Barclays set a $19.00 target price on Adient and gave the stock a “hold” rating in a report on Friday, January 4th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.00.

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Adient Company Profile

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.

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