Adient plc (NYSE:ADNT) Short Interest Up 5.7% in June

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. 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 note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, May 6th. 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 research note on Monday, April 22nd. BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price for the company in a report on Monday. Finally, Barclays lowered their price target on shares of Adient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.67.

Adient Stock Up 0.7 %

ADNT stock opened at $24.85 on Wednesday. Adient has a one year low of $24.22 and a one year high of $46.51. 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’s fifty day moving average is $27.57 and its 200 day moving average is $31.47. The firm has a market cap of $2.23 billion, a PE ratio of 15.25, a P/E/G ratio of 0.33 and a beta of 2.19.

Adient (NYSE:ADNT) last posted its earnings results on Friday, May 3rd. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Adient had a return on equity of 8.72% and a net margin of 1.04%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. On average, research analysts forecast that Adient will post 2.26 EPS for the current year.

Insider Buying and Selling at Adient

In related news, Director Peter Carlin sold 4,207 shares of Adient stock in a transaction that occurred 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 sale, the director now directly owns 28,352 shares in the company, valued at approximately $819,372.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ADNT. Partnership Wealth Management LLC purchased a new stake in Adient in the 4th quarter worth $83,000. Covestor Ltd raised its position in shares of Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after purchasing an additional 2,210 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Adient in the 1st quarter valued at about $135,000. Headlands Technologies LLC purchased a new position in Adient in the 1st quarter valued at about $159,000. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in Adient in the 4th quarter worth about $207,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Company Profile

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.