Adient (NYSE:ADNT) Stock Price Up 7.3% – Time to Buy?

Adient plc (NYSE:ADNT)’s share price rose 7.3% during trading on Tuesday . The stock traded as high as $17.46 and last traded at $17.67. Approximately 181,733 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,418,413 shares. The stock had previously closed at $16.47.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup assumed coverage on Adient in a report on Wednesday, April 23rd. They set a “neutral” rating and a $14.00 price target for the company. UBS Group boosted their target price on shares of Adient from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Bank of America lowered shares of Adient from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $24.00 to $18.00 in a research report on Tuesday, March 4th. Wells Fargo & Company boosted their price objective on shares of Adient from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Finally, Morgan Stanley lowered their target price on shares of Adient from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.22.

Adient Stock Up 7.3%

The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.49 billion, a P/E ratio of 884.50, a PEG ratio of 0.34 and a beta of 1.64. The firm has a 50 day simple moving average of $13.46 and a two-hundred day simple moving average of $15.61.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, May 7th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.36 by $0.33. Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities research analysts expect that Adient plc will post 1.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC boosted its stake in Adient by 5.1% during the 4th quarter. Empowered Funds LLC now owns 309,891 shares of the company’s stock valued at $5,339,000 after purchasing an additional 15,109 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Adient by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 422,806 shares of the company’s stock valued at $7,285,000 after purchasing an additional 11,607 shares during the period. IFP Advisors Inc increased its position in shares of Adient by 6,924.2% during the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock valued at $40,000 after purchasing an additional 2,285 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Adient in the fourth quarter worth approximately $794,000. Finally, Jones Financial Companies Lllp grew its position in Adient by 110.8% during the fourth quarter. Jones Financial Companies Lllp now owns 14,543 shares of the company’s stock valued at $251,000 after buying an additional 7,643 shares during the period. 92.44% of the stock is owned by institutional investors.

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.