Investors Purchase High Volume of Call Options on Adient (NYSE:ADNT)

Adient (NYSE:ADNT) was the target of unusually large options trading activity on Tuesday. Traders purchased 4,241 call options on the stock. This represents an increase of 1,098% compared to the typical daily volume of 354 call options.

Adient Trading Down 1.6%

Shares of ADNT stock traded down $0.28 on Tuesday, reaching $17.02. 436,920 shares of the company’s stock were exchanged, compared to its average volume of 1,013,473. The company’s fifty day simple moving average is $17.92 and its 200 day simple moving average is $20.56. Adient has a 52 week low of $15.91 and a 52 week high of $27.32. The stock has a market capitalization of $1.31 billion, a PE ratio of 28.33, a P/E/G ratio of 0.24 and a beta of 1.60. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). Adient had a return on equity of 7.32% and a net margin of 0.32%. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the business earned $0.45 EPS. The business’s revenue was up 4.3% on a year-over-year basis. As a group, analysts forecast that Adient will post 1.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus lowered their price objective on Adient from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Wall Street Zen cut shares of Adient from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays cut their price target on shares of Adient from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Zacks Research upgraded shares of Adient from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 16th. Finally, BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price for the company in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.90.

Insider Transactions at Adient

In related news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total value of $150,977.75. Following the transaction, the director directly owned 38,835 shares in the company, valued at approximately $747,573.75. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.94% of the stock is owned by corporate insiders.

Institutional Trading of Adient

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC purchased a new stake in shares of Adient during the third quarter worth about $243,000. Vise Technologies Inc. grew its position in Adient by 10.6% during the 3rd quarter. Vise Technologies Inc. now owns 14,868 shares of the company’s stock worth $250,000 after purchasing an additional 1,426 shares in the last quarter. Counterpoint Mutual Funds LLC grew its stake in Adient by 32.6% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 35,281 shares of the company’s stock valued at $594,000 after acquiring an additional 8,668 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Adient by 126.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,838 shares of the company’s stock worth $31,000 after buying an additional 1,026 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Adient during the 2nd quarter valued at $27,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.