Adient (NYSE:ADNT) Shares Gap Up - Should You Buy?

Shares of Adient plc (NYSE:ADNT - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $19.88, but opened at $21.22. Adient shares last traded at $20.42, with a volume of 104,052 shares traded.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays cut their price target on Adient from $29.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company decreased their price target on shares of Adient from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Friday, September 20th. Morgan Stanley cut their price target on shares of Adient from $32.00 to $21.00 and set an "underweight" rating on the stock in a report on Wednesday, August 14th. Wolfe Research initiated coverage on Adient in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. Finally, Bank of America cut their target price on Adient from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Adient currently has a consensus rating of "Hold" and a consensus target price of $25.38.

Adient Trading Up 2.4 %

The company has a market capitalization of $1.77 billion, a P/E ratio of 27.50, a P/E/G ratio of 0.39 and a beta of 2.18. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The firm's 50-day moving average price is $21.46 and its 200 day moving average price is $24.20.

Adient (NYSE:ADNT - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.82 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The business's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts predict that Adient plc will post 1.73 earnings per share for the current year.

Hedge Funds Weigh In On Adient

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its stake in Adient by 202.8% in the third quarter. Thrivent Financial for Lutherans now owns 69,831 shares of the company's stock valued at $1,576,000 after purchasing an additional 46,766 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Adient in the third quarter valued at $6,653,000. KBC Group NV lifted its position in shares of Adient by 51.8% during the 3rd quarter. KBC Group NV now owns 3,328 shares of the company's stock valued at $75,000 after buying an additional 1,136 shares during the last quarter. MQS Management LLC purchased a new position in shares of Adient during the 3rd quarter valued at $278,000. Finally, Victory Capital Management Inc. grew its stake in shares of Adient by 8.4% during the 3rd quarter. Victory Capital Management Inc. now owns 20,977 shares of the company's stock worth $473,000 after acquiring an additional 1,633 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.