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

Adient plc (NYSE:ADNT) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 4,190,000 shares, a decline of 12.0% from the August 15th total of 4,760,000 shares. Approximately 4.9% of the shares of the stock are short sold. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is presently 3.2 days.

Adient Stock Up 0.1 %

Shares of ADNT traded up $0.03 on Wednesday, hitting $21.69. The company’s stock had a trading volume of 1,289,072 shares, compared to its average volume of 1,131,655. The firm’s fifty day moving average price is $22.73 and its 200-day moving average price is $26.88. Adient has a fifty-two week low of $19.40 and a fifty-two week high of $38.63. 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 has a market capitalization of $1.95 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.53 and a beta of 2.16.

Adient (NYSE:ADNT) last posted its quarterly earnings data 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 company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The company’s revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts expect that Adient will post 1.77 EPS for the current year.

Institutional Investors Weigh In On Adient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Adient by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 889,242 shares of the company’s stock valued at $32,333,000 after buying an additional 21,323 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Adient by 30.3% during the 4th quarter. BNP Paribas Financial Markets now owns 78,454 shares of the company’s stock worth $2,853,000 after acquiring an additional 18,234 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Adient during the 4th quarter worth approximately $376,000. Janney Montgomery Scott LLC bought a new stake in Adient in the 4th quarter valued at $499,000. Finally, Norges Bank acquired a new stake in Adient during the 4th quarter valued at $18,040,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADNT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. Morgan Stanley lowered their price target on shares of Adient from $32.00 to $21.00 and set an “underweight” rating for the company in a report on Wednesday, August 14th. UBS Group reduced their price objective on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Wolfe Research started coverage on Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Bank of America cut their price target on Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Adient has an average rating of “Hold” and a consensus price target of $27.25.

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.