Adient (NYSE:ADNT) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Adient plc (NYSE:ADNT) saw unusually-high trading volume on Monday . Approximately 2,138,597 shares traded hands during mid-day trading, an increase of 51% from the previous session’s volume of 1,414,510 shares.The stock last traded at $13.71 and had previously closed at $13.92.

Analysts Set New Price Targets

A number of analysts recently weighed in on ADNT shares. Barclays dropped their price objective on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $27.00 to $20.00 in a report on Monday, December 16th. StockNews.com downgraded shares of Adient from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, UBS Group lifted their target price on shares of Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.88.

Adient Stock Performance

The stock’s 50-day moving average price is $16.16 and its 200 day moving average price is $18.60. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.25 billion, a P/E ratio of 742.40, a price-to-earnings-growth ratio of 0.34 and a beta of 2.27.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same period in the prior year, the business earned $0.31 earnings per share. As a group, research analysts expect that Adient plc will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Adient

Several hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in shares of Adient in the fourth quarter valued at $25,000. Versant Capital Management Inc boosted its position in shares of Adient by 10,316.7% during the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock valued at $32,000 after acquiring an additional 1,857 shares in the last quarter. R Squared Ltd acquired a new position in Adient in the fourth quarter worth about $32,000. IFP Advisors Inc lifted its stake in Adient by 6,924.2% during the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock worth $40,000 after purchasing an additional 2,285 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in Adient by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,738 shares of the company’s stock valued at $47,000 after buying an additional 2,435 shares in the last quarter. Institutional investors 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.