Short Interest in Adient plc (NYSE:ADNT) Grows By 7.0%

Adient plc (NYSE:ADNT) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,640,000 shares, a growth of 7.0% from the March 31st total of 5,270,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is currently 5.1 days. Currently, 6.3% of the company’s shares are short sold.

Adient Price Performance

Shares of NYSE:ADNT opened at $29.42 on Thursday. The business has a 50-day simple moving average of $32.04 and a two-hundred day simple moving average of $33.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 1.15. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 0.32 and a beta of 2.51. Adient has a fifty-two week low of $27.73 and a fifty-two week high of $46.51.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.16). The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.76 billion. Adient had a net margin of 1.39% and a return on equity of 7.90%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, analysts expect that Adient will post 2.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADNT has been the topic of a number of research reports. Bank of America reduced their target price on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Barclays restated an “equal weight” rating and issued a $37.00 price objective (down previously from $41.00) on shares of Adient in a report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their target price on shares of Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Finally, Wells Fargo & Company cut their price target on Adient from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.43.

Insider Activity at Adient

In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total value of $336,800.00. Following the completion of the sale, the executive vice president now directly owns 55,669 shares in the company, valued at $1,874,931.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adient

A number of hedge funds have recently modified their holdings of ADNT. Dimensional Fund Advisors LP lifted its stake in shares of Adient by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,017,402 shares of the company’s stock valued at $182,434,000 after buying an additional 196,857 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Adient by 5.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 4,469,049 shares of the company’s stock valued at $162,495,000 after acquiring an additional 229,963 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Adient by 1.2% in the fourth quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock worth $117,558,000 after acquiring an additional 37,010 shares during the period. Vanguard Group Inc. grew its position in shares of Adient by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company’s stock worth $99,348,000 after purchasing an additional 246,038 shares in the last quarter. Finally, Pzena Investment Management LLC raised its stake in Adient by 17.5% during the 4th quarter. Pzena Investment Management LLC now owns 1,817,382 shares of the company’s stock valued at $66,080,000 after purchasing an additional 270,455 shares during the period. 92.44% of the stock is currently owned by institutional investors.

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.