Adient (NYSE:ADNT) Shares Gap Down to $22.82

Adient plc (NYSE:ADNT) gapped down before the market opened on Tuesday . The stock had previously closed at $22.82, but opened at $21.00. Adient shares last traded at $21.34, with a volume of 75,426 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ADNT shares. BNP Paribas upgraded shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price on the stock in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Adient from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 6th. Morgan Stanley cut their target price on Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, May 10th. UBS Group decreased their price target on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Bank of America dropped their price objective 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, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Adient presently has an average rating of “Hold” and a consensus target price of $34.33.

Adient Stock Down 4.7 %

The stock’s 50-day moving average price is $25.62 and its two-hundred day moving average price is $29.79. The company has a current ratio of 1.13, a quick ratio of 0.91 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $1.95 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.46 and a beta of 2.19.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.39 by $0.15. Adient had a return on equity of 8.72% and a net margin of 1.04%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. Adient’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, research analysts expect that Adient plc will post 2.14 earnings per share for the current fiscal year.

Insider Activity

In other Adient news, Director Peter Carlin sold 4,207 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the sale, the director now directly owns 28,352 shares of the company’s stock, valued at $819,372.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after acquiring an additional 443 shares during the period. Partnership Wealth Management LLC purchased a new position in Adient during the 4th quarter valued at about $83,000. Covestor Ltd grew its holdings in Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after buying an additional 2,210 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Adient during the first quarter valued at about $135,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Adient by 41,090.9% in the fourth quarter. TFO Wealth Partners LLC now owns 4,531 shares of the company’s stock worth $1,650,000 after buying an additional 4,520 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.