Adient (NYSE:ADNT) Shares Gap Down to $20.58

Shares of Adient PLC (NYSE:ADNT) gapped down prior to trading on Wednesday . The stock had previously closed at $19.27, but opened at $20.58. Adient shares last traded at $21.81, with a volume of 39,217 shares trading hands.

A number of research firms have recently weighed in on ADNT. Wolfe Research began coverage on shares of Adient in a report on Tuesday, October 8th. They set a “market perform” rating and a $21.00 target price for the company. ValuEngine cut Adient from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Barclays reduced their price target on Adient from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. UBS Group lowered Adient from a “buy” rating to a “neutral” rating and lowered their price target for the company from $30.00 to $27.00 in a research report on Thursday, September 12th. Finally, Morgan Stanley upped their target price on Adient from $13.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. Adient has an average rating of “Hold” and an average price target of $21.93.

The firm has a 50-day moving average price of $22.38 and a 200-day moving average price of $21.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.87 and a current ratio of 1.07. The stock has a market cap of $2.05 billion, a PE ratio of 13.03 and a beta of 3.20.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.38. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $4.02 billion. Adient had a negative net margin of 2.97% and a positive return on equity of 6.23%. Adient’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. As a group, sell-side analysts anticipate that Adient PLC will post 1.55 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its position in shares of Adient by 231.2% during the second quarter. CWM LLC now owns 1,020 shares of the company’s stock valued at $25,000 after acquiring an additional 712 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Adient by 92.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,553 shares of the company’s stock worth $59,000 after acquiring an additional 1,223 shares during the last quarter. Strs Ohio bought a new position in Adient in the 2nd quarter valued at approximately $106,000. KCS Wealth Advisory bought a new position in Adient in the 2nd quarter valued at approximately $205,000. Finally, Point View Wealth Management Inc. bought a new position in Adient in the 2nd quarter valued at approximately $210,000. Hedge funds and other institutional investors own 98.85% of the company’s stock.

Adient Company Profile (NYSE:ADNT)

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.

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