Short Interest in Adient plc (NYSE:ADNT) Declines By 12.0%

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADNT. Wells Fargo & Company dropped their price objective on shares of Adient from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. Bank of America reduced 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. JPMorgan Chase & Co. reduced their price target on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on Adient from $32.00 to $21.00 and set an “underweight” rating for the company in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.25.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its position in Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares during the last quarter. Covestor Ltd raised its position in Adient by 201.5% in the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after purchasing an additional 2,210 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Adient in the 1st quarter valued at $135,000. TFO Wealth Partners LLC raised its position in Adient by 41,090.9% in the 4th quarter. TFO Wealth Partners LLC now owns 4,531 shares of the company’s stock valued at $1,650,000 after purchasing an additional 4,520 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Adient in the 1st quarter valued at $159,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Up 0.1 %

Shares of NYSE ADNT traded up $0.03 during midday trading on Wednesday, hitting $21.69. 1,289,072 shares of the company’s stock were exchanged, compared to its average volume of 1,131,655. The firm’s fifty day simple moving average is $22.76 and its 200-day simple moving average is $26.92. The company has a market cap of $1.95 billion, a PE ratio of 13.29, a P/E/G ratio of 0.53 and a beta of 2.16. Adient has a twelve month low of $19.40 and a twelve month high of $38.63. 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 (NYSE:ADNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.30). The company 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 prior year, the firm posted $0.98 EPS. Research analysts predict that Adient will post 1.77 EPS for the current fiscal year.

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.