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

Adient plc (NYSE:ADNT) shares gapped up before the market opened 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 trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of Adient from $35.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, May 10th. Wells Fargo & Company decreased their price objective on shares of Adient from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price objective on shares of Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price objective for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.67.

Adient Stock Performance

The stock has a market capitalization 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 company’s 50-day moving average is $27.57 and its two-hundred day moving average is $31.47. The company has a current ratio of 1.13, a quick ratio of 0.91 and a debt-to-equity ratio of 1.00.

Adient (NYSE:ADNT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the previous year, the firm earned $0.32 EPS. Adient’s revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Adient plc will post 2.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Adient news, Director Peter Carlin sold 4,207 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the sale, the director now directly owns 28,352 shares in the company, valued at approximately $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 owned by insiders.

Hedge Funds Weigh In On Adient

Several hedge funds have recently made changes to their positions in ADNT. Partnership Wealth Management LLC acquired a new position in shares of Adient in the 4th quarter worth approximately $83,000. Covestor Ltd increased its position in shares of Adient by 201.5% in the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after acquiring an additional 2,210 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Adient in the first quarter worth approximately $135,000. Headlands Technologies LLC purchased a new position in shares of Adient in the first quarter worth approximately $159,000. Finally, Handelsinvest Investeringsforvaltning purchased a new position in shares of Adient in the fourth quarter worth approximately $207,000. Institutional investors and hedge funds 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.