Adient plc (NYSE:ADNT) Short Interest Update

Adient plc (NYSE:ADNT) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 4,840,000 shares, an increase of 5.7% from the May 31st total of 4,580,000 shares. Currently, 5.5% of the company’s stock are short sold. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is presently 4.5 days.

Insider Activity at Adient

In other Adient news, Director Peter Carlin sold 4,207 shares of the firm’s 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 transaction, the director now directly owns 28,352 shares of the company’s stock, valued at $819,372.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd raised its stake in Adient by 167.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 211,856 shares of the company’s stock valued at $7,775,000 after acquiring an additional 132,595 shares during the period. Teza Capital Management LLC purchased a new position in shares of Adient in the third quarter worth about $223,000. Gotham Asset Management LLC raised its position in shares of Adient by 244.8% in the third quarter. Gotham Asset Management LLC now owns 71,489 shares of the company’s stock valued at $2,624,000 after purchasing an additional 50,754 shares during the period. AQR Capital Management LLC lifted its stake in shares of Adient by 407.3% during the 3rd quarter. AQR Capital Management LLC now owns 387,662 shares of the company’s stock valued at $14,227,000 after buying an additional 311,245 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in Adient in the 3rd quarter worth approximately $364,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ADNT. Bank of America dropped their price target on shares of 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. decreased their price target on Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company dropped their price objective on Adient from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Adient from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 6th. Finally, Barclays dropped their price target on shares of Adient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 7th. One research 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. According to MarketBeat.com, Adient presently has an average rating of “Hold” and an average price target of $37.67.

Adient Price Performance

ADNT opened at $24.72 on Thursday. Adient has a fifty-two week low of $24.22 and a fifty-two week high of $46.51. The firm has a 50-day moving average of $27.47 and a 200 day moving average of $31.42. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13. The firm has a market cap of $2.22 billion, a P/E ratio of 15.17, a PEG ratio of 0.33 and a beta of 2.19.

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

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.