Short Interest in Adient plc (NYSE:ADNT) Declines By 12.0%

Adient plc (NYSE:ADNT) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 4,190,000 shares, a decline of 12.0% from the August 15th total of 4,760,000 shares. Currently, 4.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,290,000 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of Adient

A number of institutional investors and hedge funds have recently bought and sold shares of ADNT. Charles Schwab Investment Management Inc. increased its position in Adient by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,242 shares of the company’s stock worth $32,333,000 after purchasing an additional 21,323 shares in the last quarter. BNP Paribas Financial Markets increased its position in Adient by 30.3% during the 4th quarter. BNP Paribas Financial Markets now owns 78,454 shares of the company’s stock worth $2,853,000 after purchasing an additional 18,234 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Adient during the 4th quarter worth approximately $376,000. Janney Montgomery Scott LLC acquired a new stake in Adient during the 4th quarter worth approximately $499,000. Finally, Norges Bank acquired a new stake in Adient during the 4th quarter worth approximately $18,040,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

ADNT has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price target on the stock in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price target on shares of Adient in a research note on Tuesday, September 10th. Bank of America lowered their price target on shares of Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Morgan Stanley lowered their price target on shares of Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.25.

Adient Trading Up 0.1 %

Shares of ADNT stock traded up $0.03 during trading hours on Wednesday, hitting $21.69. 1,289,072 shares of the company were exchanged, compared to its average volume of 1,131,655. The firm has a market cap of $1.95 billion, a PE ratio of 13.29, a PEG ratio of 0.53 and a beta of 2.16. Adient has a 1 year low of $19.40 and a 1 year high of $38.63. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The firm has a fifty day moving average of $22.76 and a 200 day moving average of $26.92.

Adient (NYSE:ADNT) last announced its quarterly earnings data 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). The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Adient had a return on equity of 6.34% and a net margin of 0.50%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. Analysts expect that Adient will post 1.77 earnings per share 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.