Short Interest in Adient (NYSE:ADNT) Decreases By 17.5%

Adient (NYSE:ADNT) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 5,568,875 shares, a decline of 17.5% from the February 12th total of 6,746,867 shares. Approximately 7.2% of the shares of the company are short sold. Based on an average daily trading volume, of 763,350 shares, the short-interest ratio is currently 7.3 days. Based on an average daily trading volume, of 763,350 shares, the short-interest ratio is currently 7.3 days. Approximately 7.2% of the shares of the company are short sold.

Analysts Set New Price Targets

ADNT has been the subject of several research reports. Morgan Stanley increased their price objective on Adient from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Citigroup upped their target price on shares of Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. UBS Group increased their price target on shares of Adient from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Stifel Nicolaus raised their price target on shares of Adient from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Adient in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.67.

Adient Stock Up 3.3%

Shares of NYSE ADNT traded up $0.66 during trading hours on Tuesday, hitting $20.40. The company had a trading volume of 828,469 shares, compared to its average volume of 811,500. Adient has a 1-year low of $10.04 and a 1-year high of $27.32. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 1.17. The firm’s 50 day moving average is $22.89 and its 200-day moving average is $22.14. The stock has a market capitalization of $1.60 billion, a P/E ratio of -5.63, a price-to-earnings-growth ratio of 0.43 and a beta of 1.56.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.16. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. On average, analysts expect that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

Several hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its position in Adient by 62.6% during the third quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock worth $27,000 after buying an additional 439 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Adient during the 4th quarter worth approximately $30,000. Quarry LP boosted its stake in shares of Adient by 163.9% during the 3rd quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after acquiring an additional 1,431 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Adient during the 2nd quarter worth approximately $63,000. Finally, Los Angeles Capital Management LLC bought a new stake in Adient in the 4th quarter valued at $64,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.