Short Interest in Adient plc (NYSE:ADNT) Grows By 7.0%

Adient plc (NYSE:ADNT) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 5,640,000 shares, an increase of 7.0% from the March 31st total of 5,270,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is currently 5.1 days. Currently, 6.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ADNT shares. Barclays restated an “equal weight” rating and set a $37.00 price target (down from $41.00) on shares of Adient in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their target price on Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. 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. Finally, Wells Fargo & Company dropped their price objective on shares of Adient from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.43.

Insider Activity

In other Adient 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 completion of 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 legal filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Adient during the third quarter worth approximately $46,000. Partnership Wealth Management LLC purchased a new stake in shares of Adient during the 4th quarter worth approximately $83,000. AM Squared Ltd acquired a new position in shares of Adient in the 3rd quarter valued at $106,000. TFO Wealth Partners LLC grew its position in shares of Adient by 41,090.9% in the 4th quarter. TFO Wealth Partners LLC now owns 4,531 shares of the company’s stock valued at $1,650,000 after buying an additional 4,520 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Adient during the 3rd quarter worth $205,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Down 1.5 %

Shares of Adient stock opened at $29.42 on Thursday. Adient has a 52-week low of $27.73 and a 52-week high of $46.51. The company has a 50 day moving average of $32.04 and a 200 day moving average of $33.40. 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 capitalization of $2.68 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.31 and a beta of 2.39.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, February 7th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.16). Adient had a return on equity of 7.90% and a net margin of 1.39%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, research analysts forecast that Adient will post 2.53 EPS for the current fiscal year.

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.