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

Shares of Adient plc (NYSE:ADNT - Get Free Report) saw unusually-high trading volume on Monday . Approximately 2,138,597 shares changed hands during 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

Several research firms recently weighed in on ADNT. Morgan Stanley decreased their target price on shares of Adient from $19.00 to $17.00 and set an "underweight" rating for the company in a research note on Monday, March 3rd. Bank of America lowered Adient from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $24.00 to $18.00 in a report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price target on shares of Adient from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Barclays decreased their price target on shares of Adient from $24.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 22nd. Finally, UBS Group increased 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 research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $20.88.

Adient Stock Performance

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 company has a market cap of $1.07 billion, a P/E ratio of 637.20, a price-to-earnings-growth ratio of 0.34 and a beta of 2.27. The company has a 50 day moving average price of $16.04 and a 200-day moving average price of $18.55.

Remove Ads

Adient (NYSE:ADNT - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates 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 last year, the business posted $0.31 earnings per share. On average, equities analysts expect that Adient plc will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Pzena Investment Management LLC increased its position in Adient by 28.5% in the 4th quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company's stock valued at $62,535,000 after acquiring an additional 803,961 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Adient in the fourth quarter valued at approximately $11,395,000. Millennium Management LLC boosted its holdings in shares of Adient by 2,039.0% during the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company's stock worth $10,516,000 after buying an additional 581,779 shares in the last quarter. HITE Hedge Asset Management LLC grew its position in shares of Adient by 122.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company's stock worth $14,065,000 after buying an additional 449,272 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Adient by 9.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company's stock valued at $117,298,000 after acquiring an additional 442,200 shares in 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.