Adient (ADNT) Bonds Rise 0.7% During Trading

An issue of Adient PLC (NYSE:ADNT) bonds rose 0.7% against their face value during trading on Friday. The high-yield issue of debt has a 4.875% coupon and is set to mature on August 15, 2026. The debt is now trading at $78.75 and was trading at $78.50 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

Several brokerages recently commented on ADNT. Morgan Stanley dropped their price objective on Adient from $43.00 to $20.00 and set a “sell” rating on the stock in a research note on Wednesday, November 14th. Barclays reaffirmed a “hold” rating and set a $28.00 price objective on shares of Adient in a research note on Tuesday, November 13th. Robert W. Baird dropped their price objective on Adient from $42.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, November 12th. Royal Bank of Canada dropped their price objective on Adient to $21.00 and set a “sector perform” rating on the stock in a research note on Monday, November 12th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Adient in a research note on Wednesday, October 17th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $41.25.

Shares of Adient stock opened at $24.81 on Friday. The firm has a market cap of $2.32 billion, a P/E ratio of 4.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73. Adient PLC has a 12 month low of $21.09 and a 12 month high of $84.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.03.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Friday, November 9th. The company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.04. Adient had a positive return on equity of 13.51% and a negative net margin of 9.66%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter last year, the business posted $2.34 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, analysts expect that Adient PLC will post 4.42 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 24th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Tuesday, October 23rd. Adient’s dividend payout ratio is 19.57%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning raised its stake in shares of Adient by 13.0% in the 2nd quarter. Creative Planning now owns 10,402 shares of the company’s stock valued at $512,000 after purchasing an additional 1,194 shares during the period. KBC Group NV raised its stake in shares of Adient by 16.1% in the 2nd quarter. KBC Group NV now owns 8,734 shares of the company’s stock valued at $429,000 after purchasing an additional 1,208 shares during the period. Taylor Asset Management Inc. raised its stake in shares of Adient by 23.6% in the 2nd quarter. Taylor Asset Management Inc. now owns 6,800 shares of the company’s stock valued at $334,000 after purchasing an additional 1,300 shares during the period. Mount Yale Investment Advisors LLC raised its stake in shares of Adient by 268.8% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 2,032 shares of the company’s stock valued at $100,000 after purchasing an additional 1,481 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Adient by 29.5% in the 3rd quarter. Private Advisor Group LLC now owns 7,445 shares of the company’s stock valued at $293,000 after purchasing an additional 1,697 shares during the period.

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About Adient (NYSE:ADNT)

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.

Further Reading: Understanding Price to Earnings Ratio (PE)

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