Adient (NYSE:ADNT) Reaches New 52-Week High – Here’s Why

Adient (NYSE:ADNT) shares hit a new 52-week high on Thursday . The company traded as high as $27.20 and last traded at $26.6930, with a volume of 1027896 shares traded. The stock had previously closed at $25.93.

Wall Street Analyst Weigh In

ADNT has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Adient from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Adient in a research note on Wednesday, January 21st. Citigroup lifted their price objective on Adient from $22.50 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. Wall Street Zen upgraded shares of Adient from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Barclays raised their price target on shares of Adient from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Adient currently has an average rating of “Hold” and a consensus target price of $27.44.

Adient Stock Up 2.9%

The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 0.88. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -7.37, a price-to-earnings-growth ratio of 0.68 and a beta of 1.61. The firm’s 50-day moving average is $20.88 and its 200 day moving average is $22.13.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.16. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. Sell-side analysts anticipate that Adient will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Adient

In other news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $19.71, for a total value of $49,275.00. Following the transaction, the executive vice president directly owned 116,425 shares in the company, valued at $2,294,736.75. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.94% of the stock is currently owned by company insiders.

Institutional Trading of Adient

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG lifted its position in Adient by 20.7% during the fourth quarter. Deutsche Bank AG now owns 852,097 shares of the company’s stock valued at $16,335,000 after buying an additional 146,227 shares in the last quarter. Letko Brosseau & Associates Inc. raised its stake in shares of Adient by 5.3% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,576,385 shares of the company’s stock valued at $30,219,000 after acquiring an additional 79,549 shares during the period. Fox Run Management L.L.C. raised its stake in shares of Adient by 13.5% in the 4th quarter. Fox Run Management L.L.C. now owns 46,629 shares of the company’s stock valued at $894,000 after acquiring an additional 5,534 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Adient during the 4th quarter valued at $64,000. Finally, WINTON GROUP Ltd purchased a new stake in Adient during the 4th quarter worth $777,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Adient

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.