Adient plc (NYSE:ADNT) Sees Significant Drop in Short Interest

by · The Markets Daily

Adient plc (NYSE:ADNT – Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 4,470,000 shares, a decrease of 22.0% from the March 15th total of 5,730,000 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,640,000 shares, the short-interest ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADNT shares. Bank of America downgraded shares of Adient from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $24.00 to $18.00 in a report on Tuesday, March 4th. Morgan Stanley reduced their price target on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Monday, March 3rd. StockNews.com cut shares of Adient from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Barclays cut shares of Adient from an “equal weight” rating to a “negative” rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.00.

Check Out Our Latest Stock Analysis on Adient

Adient Trading Up 0.6 %

ADNT traded up $0.07 during mid-day trading on Monday, hitting $11.50. 1,511,976 shares of the stock were exchanged, compared to its average volume of 1,397,983. The company has a market cap of $965.23 million, a PE ratio of 575.00, a PEG ratio of 0.34 and a beta of 1.97. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm’s fifty day moving average is $13.98 and its two-hundred day moving average is $17.23. Adient has a 1-year low of $10.04 and a 1-year high of $31.19.

Adient (NYSE:ADNT – Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. During the same quarter in the previous year, the business posted $0.31 earnings per share. Equities analysts forecast that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its stake in shares of Adient by 127.0% in the 3rd quarter. Barclays PLC now owns 208,239 shares of the company’s stock valued at $4,701,000 after buying an additional 116,518 shares during the period. Franklin Resources Inc. raised its holdings in Adient by 85.4% in the third quarter. Franklin Resources Inc. now owns 59,694 shares of the company’s stock valued at $1,305,000 after acquiring an additional 27,491 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Adient by 36.5% in the third quarter. Principal Financial Group Inc. now owns 411,199 shares of the company’s stock worth $9,281,000 after acquiring an additional 109,850 shares during the last quarter. Versant Capital Management Inc grew its holdings in Adient by 10,316.7% during the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Adient by 1.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 209,674 shares of the company’s stock worth $3,613,000 after acquiring an additional 3,816 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Adient Company Profile

(Get Free Report)

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.

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