Adient (NYSE:ADNT) Shares Gap Up to $24.71

Adient plc (NYSE:ADNT) shares gapped up prior to trading on Monday . The stock had previously closed at $24.71, but opened at $25.40. Adient shares last traded at $25.07, with a volume of 63,677 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, May 6th. Bank of America dropped their price target on Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. dropped their price target on Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. BNP Paribas raised Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price target on the stock in a research report on Monday. Finally, Morgan Stanley dropped their price target on Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.67.

Adient Stock Performance

The company has a market cap of $2.23 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.33 and a beta of 2.19. The firm has a 50 day moving average price of $27.57 and a 200-day moving average price of $31.47. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.15. Adient had a return on equity of 8.72% and a net margin of 1.04%. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that Adient plc will post 2.26 EPS for the current year.

Insider Buying and Selling

In other news, Director Peter Carlin sold 4,207 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.90, for a total value of $121,582.30. Following the completion of the transaction, the director now owns 28,352 shares in the company, valued at approximately $819,372.80. The sale was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.

Institutional Trading of Adient

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Partnership Wealth Management LLC bought a new stake in Adient during the fourth quarter worth about $83,000. Covestor Ltd grew its stake in Adient by 201.5% during the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after buying an additional 2,210 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Adient during the first quarter worth about $135,000. TFO Wealth Partners LLC grew its stake in Adient by 41,090.9% during the fourth quarter. TFO Wealth Partners LLC now owns 4,531 shares of the company’s stock worth $1,650,000 after buying an additional 4,520 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Adient during the first quarter worth about $159,000. Institutional investors own 92.44% of the company’s stock.

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.