Adient (NYSE:ADNT) Shares Gap Up After Analyst Upgrade

Adient (NYSE:ADNT) shares gapped up prior to trading on Wednesday after UBS Group upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $21.45, but opened at $22.77. UBS Group now has a $30.00 price target on the stock, up from their previous price target of $22.00. Adient shares last traded at $22.94, with a volume of 213,009 shares traded.

ADNT has been the subject of a number of other reports. Wall Street Zen downgraded shares of Adient from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Barclays cut their price objective on shares of Adient from $27.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Wells Fargo & Company boosted their target price on shares of Adient from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley upgraded Adient from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $17.00 to $20.00 in a research report on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Adient in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus price target of $24.19.

Insiders Place Their Bets

In other news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $19.71, for a total value of $49,275.00. Following the transaction, the executive vice president owned 116,425 shares of the company’s stock, valued at $2,294,736.75. This represents a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adient

Several institutional investors and hedge funds have recently made changes to their positions in ADNT. Allspring Global Investments Holdings LLC lifted its stake in Adient by 9.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company’s stock worth $193,000 after purchasing an additional 866 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Adient by 5,271.0% in the 4th quarter. SG Americas Securities LLC now owns 419,531 shares of the company’s stock valued at $8,042,000 after acquiring an additional 411,720 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Adient by 17.2% in the 4th quarter. GAMMA Investing LLC now owns 5,199 shares of the company’s stock valued at $100,000 after acquiring an additional 764 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Adient in the 3rd quarter worth approximately $216,000. Finally, PharVision Advisers LLC bought a new stake in Adient in the third quarter valued at approximately $351,000. Institutional investors own 92.44% of the company’s stock.

Adient Stock Performance

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.12 and a quick ratio of 0.93. The stock has a market cap of $1.74 billion, a PE ratio of -6.59, a price-to-earnings-growth ratio of 0.78 and a beta of 1.61. The business has a 50 day moving average price of $19.60 and a two-hundred day moving average price of $22.04.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.58 billion. Adient had a positive return on equity of 7.81% and a negative net margin of 1.93%.The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, equities research analysts forecast that Adient will post 1.76 EPS for the current fiscal year.

About Adient

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.