Traders Buy High Volume of Call Options on Adient (NYSE:ADNT)

Adient PLC (NYSE:ADNT) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 7,880 call options on the company. This represents an increase of approximately 1,307% compared to the typical volume of 560 call options.

ADNT has been the subject of a number of analyst reports. KeyCorp upgraded shares of Delphi Technologies from an “underweight” rating to a “sector weight” rating and set a $19.02 target price for the company in a research note on Monday, March 18th. Bank of America set a $144.00 target price on shares of Walt Disney and gave the stock a “buy” rating in a research note on Friday, April 12th. ValuEngine downgraded shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Robert W. Baird boosted their target price on shares of Mcdonald’s from $196.00 to $205.00 in a research note on Monday, April 1st. Finally, Zacks Investment Research downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. Adient currently has an average rating of “Hold” and an average target price of $24.60.

NYSE ADNT opened at $21.58 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Adient has a 1 year low of $12.15 and a 1 year high of $49.89. The firm has a market capitalization of $2.08 billion, a P/E ratio of 3.84 and a beta of 3.19. The company has a fifty day moving average of $20.90.

Adient (NYSE:ADNT) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.08). Adient had a negative net margin of 8.62% and a positive return on equity of 10.34%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The business’s revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Adient will post 1.43 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADNT. Oppenheimer Asset Management Inc. boosted its stake in Adient by 13.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 9,130 shares of the company’s stock valued at $118,000 after acquiring an additional 1,073 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of Adient in the first quarter valued at about $143,000. World Asset Management Inc purchased a new stake in shares of Adient in the first quarter valued at about $151,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Adient by 50.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,708 shares of the company’s stock valued at $176,000 after buying an additional 3,914 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Adient in the first quarter valued at about $179,000. Institutional investors own 97.85% of the company’s stock.

About Adient

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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