Adient (NYSE:ADNT) Shares Gap Down to $22.82

Adient plc (NYSE:ADNT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $22.82, but opened at $21.00. Adient shares last traded at $21.34, with a volume of 75,426 shares.

Wall Street Analyst Weigh In

Several analysts have commented on ADNT shares. Morgan Stanley dropped their target price on shares of Adient from $35.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 10th. UBS Group decreased their target price on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price target on shares of Adient from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. BNP Paribas upgraded shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price objective for the company in a report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.33.

Adient Stock Performance

The stock’s 50-day moving average price is $25.62 and its 200 day moving average price is $29.79. The firm has a market cap of $1.95 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.46 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.80 billion. Adient had a net margin of 1.04% and a return on equity of 8.72%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. As a group, equities analysts predict that Adient plc will post 2.14 EPS for the current year.

Insider Buying and Selling

In other Adient news, Director Peter Carlin sold 4,207 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.90, for a total value of $121,582.30. Following the completion of the transaction, the director now directly owns 28,352 shares in the company, valued at $819,372.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Adient

Large investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its stake in Adient by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock valued at $630,000 after purchasing an additional 310 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Adient by 2.0% in the first quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock valued at $688,000 after buying an additional 417 shares during the last quarter. CWM LLC lifted its position in shares of Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after buying an additional 443 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Adient by 6.4% during the 1st quarter. Verdence Capital Advisors LLC now owns 8,342 shares of the company’s stock worth $275,000 after acquiring an additional 501 shares during the period. Finally, Watershed Asset Management L.L.C. increased its holdings in shares of Adient by 8.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 7,818 shares of the company’s stock worth $284,000 after acquiring an additional 595 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.