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

by · The Markets Daily

Adient plc (NYSE:ADNT – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $19.88, but opened at $21.22. Adient shares last traded at $20.42, with a volume of 104,052 shares.

Analyst Ratings Changes

Several equities research analysts have commented on ADNT shares. JPMorgan Chase & Co. dropped their price target on shares of Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Bank of America decreased their price target on shares of Adient from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Wolfe Research initiated coverage on Adient in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 price objective on shares of Adient in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.38.

Read Our Latest Analysis on Adient

Adient Stock Performance

The firm’s 50 day simple moving average is $21.50 and its 200-day simple moving average is $24.26. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 0.39 and a beta of 2.18. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08.

Adient (NYSE:ADNT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Analysts expect that Adient plc will post 1.73 EPS for the current year.

Institutional Trading of Adient

Several institutional investors have recently made changes to their positions in ADNT. Dimensional Fund Advisors LP grew its stake in Adient by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock valued at $125,480,000 after purchasing an additional 61,342 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Adient by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,616,457 shares of the company’s stock worth $39,943,000 after buying an additional 17,833 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Adient by 86.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock valued at $28,019,000 after acquiring an additional 525,280 shares in the last quarter. Bank of New York Mellon Corp raised its position in Adient by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 923,881 shares of the company’s stock valued at $22,829,000 after acquiring an additional 5,426 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Adient by 10.7% in the first quarter. William Blair Investment Management LLC now owns 835,918 shares of the company’s stock valued at $27,518,000 after acquiring an additional 80,932 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Company Profile

(Get Free Report)

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.

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