Short Interest in Adient plc (NYSE:ADNT) Expands By 5.7%

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

Adient Stock Down 0.6 %

Shares of Adient stock opened at $24.71 on Friday. The business’s 50 day simple moving average is $27.38 and its 200 day simple moving average is $31.37. Adient has a 52-week low of $24.22 and a 52-week high of $46.51. The firm has a market cap of $2.22 billion, a PE ratio of 15.16, a P/E/G ratio of 0.33 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13.

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

Insider Activity at Adient

In related news, Director Peter Carlin sold 4,207 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $28.90, for a total value of $121,582.30. Following the transaction, the director now owns 28,352 shares in the company, valued at $819,372.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ADNT. Qube Research & Technologies Ltd increased its position in shares of Adient by 167.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 211,856 shares of the company’s stock worth $7,775,000 after purchasing an additional 132,595 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of Adient during the 3rd quarter worth approximately $223,000. Gotham Asset Management LLC increased its position in shares of Adient by 244.8% during the 3rd quarter. Gotham Asset Management LLC now owns 71,489 shares of the company’s stock worth $2,624,000 after purchasing an additional 50,754 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Adient by 407.3% during the 3rd quarter. AQR Capital Management LLC now owns 387,662 shares of the company’s stock worth $14,227,000 after purchasing an additional 311,245 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Adient during the 3rd quarter worth approximately $364,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays reduced their target price on Adient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. Wells Fargo & Company reduced their target price on Adient from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, June 25th. Morgan Stanley cut their price objective on Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 10th. Bank of America cut their price objective on Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.67.

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.