Adient (NYSE:ADNT) Shares Gap Up – What’s Next?

Adient (NYSE:ADNT) shares gapped up before the market opened on Wednesday . The stock had previously closed at $21.45, but opened at $22.77. Adient shares last traded at $22.94, with a volume of 213,009 shares.

Analyst Ratings Changes

ADNT has been the topic of a number of research reports. UBS Group set a $30.00 price objective on shares of Adient and gave the company a “buy” rating in a research note on Wednesday. Citigroup dropped their price objective on shares of Adient from $25.00 to $22.50 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Wells Fargo & Company upped their target price on Adient from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday. Stifel Nicolaus cut their price target on Adient from $29.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, Morgan Stanley upgraded Adient from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $17.00 to $20.00 in a research report on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.19.

Adient Stock Performance

The company’s fifty day moving average price is $19.43 and its two-hundred day moving average price is $22.02. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.93 and a current ratio of 1.12. The firm has a market capitalization of $1.83 billion, a PE ratio of -6.94, a price-to-earnings-growth ratio of 0.69 and a beta of 1.61.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Adient had a positive return on equity of 7.81% and a negative net margin of 1.93%.The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts expect that Adient will post 1.76 earnings per share for the current year.

Insider Activity

In related news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.71, for a total transaction of $49,275.00. Following the completion of the sale, the executive vice president owned 116,425 shares of the company’s stock, valued at approximately $2,294,736.75. This represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Adient

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Adient by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,475,944 shares of the company’s stock worth $107,781,000 after purchasing an additional 166,319 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Adient by 8.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,215,764 shares of the company’s stock valued at $101,517,000 after purchasing an additional 328,555 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Adient by 7.0% in the second quarter. Pzena Investment Management LLC now owns 4,174,493 shares of the company’s stock valued at $81,236,000 after purchasing an additional 272,920 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Adient by 61.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,890,233 shares of the company’s stock valued at $45,517,000 after purchasing an additional 718,538 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. purchased a new stake in Adient during the 2nd quarter worth $28,839,000. 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.