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

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

Institutional Trading of Adient

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Adient by 96.5% in the 4th quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company's stock worth $13,828,000 after buying an additional 394,111 shares during the last quarter. Pzena Investment Management LLC grew its position in Adient by 28.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company's stock valued at $62,535,000 after purchasing an additional 803,961 shares during the last quarter. Quantbot Technologies LP lifted its position in Adient by 263.6% in the 4th quarter. Quantbot Technologies LP now owns 80,294 shares of the company's stock valued at $1,383,000 after acquiring an additional 58,209 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Adient by 36.5% in the 3rd quarter. Principal Financial Group Inc. now owns 411,199 shares of the company's stock worth $9,281,000 after buying an additional 109,850 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Adient by 6,924.2% during the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company's stock valued at $40,000 after purchasing an additional 2,285 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Adient Trading Up 4.4 %

ADNT traded up $0.54 during trading on Thursday, reaching $12.74. 488,091 shares of the stock traded hands, compared to its average volume of 1,397,085. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. The stock's 50-day moving average is $13.67 and its 200 day moving average is $17.08. Adient has a 12 month low of $10.04 and a 12 month high of $31.19. The stock has a market capitalization of $1.07 billion, a PE ratio of 637.00, a P/E/G ratio of 0.34 and a beta of 1.97.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings data 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 in the prior year, the business earned $0.31 earnings per share. Equities analysts anticipate that Adient will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on ADNT shares. UBS Group lowered their price objective on Adient from $20.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Barclays downgraded Adient from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. Citigroup initiated coverage on Adient in a report on Wednesday. They issued a "neutral" rating and a $14.00 target price for the company. StockNews.com downgraded Adient from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Morgan Stanley lowered their price objective on Adient from $19.00 to $17.00 and set an "underweight" rating for the company in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $18.44.

About Adient

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.