Adient plc (NYSE:ADNT) Short Interest Update

Adient plc (NYSE:ADNT) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 5,760,000 shares, an increase of 17.8% from the September 15th total of 4,890,000 shares. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is presently 3.5 days. Currently, 6.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Adient

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning lifted its stake in shares of Adient by 138.1% in the third quarter. Creative Planning now owns 36,708 shares of the company’s stock valued at $828,000 after purchasing an additional 21,291 shares during the period. Handelsbanken Fonder AB increased its holdings in Adient by 44.1% in the third quarter. Handelsbanken Fonder AB now owns 28,760 shares of the company’s stock valued at $649,000 after buying an additional 8,800 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Adient during the 2nd quarter valued at approximately $227,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of Adient by 85.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 152,940 shares of the company’s stock worth $3,779,000 after acquiring an additional 70,611 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Adient by 86.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock worth $28,019,000 after acquiring an additional 525,280 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Performance

Shares of NYSE:ADNT traded up $0.28 on Wednesday, reaching $21.63. The company’s stock had a trading volume of 732,168 shares, compared to its average volume of 1,235,585. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87. Adient has a 52-week low of $19.40 and a 52-week high of $37.19. The stock’s 50-day moving average is $21.79 and its two-hundred day moving average is $25.31. The stock has a market capitalization of $1.94 billion, a P/E ratio of 13.32, a PEG ratio of 0.35 and a beta of 2.16.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Adient had a return on equity of 6.34% and a net margin of 0.50%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, sell-side analysts forecast that Adient will post 1.76 EPS for the current year.

Analysts Set New Price Targets

ADNT has been the subject of several analyst reports. Morgan Stanley lowered their price objective on Adient from $32.00 to $21.00 and set an “underweight” rating for the company in a research report on Wednesday, August 14th. Bank of America lowered their price target on Adient from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday. BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price objective on the stock in a report on Monday, July 1st. Wolfe Research started coverage on shares of Adient in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.38.

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.