Adient (NYSE:ADNT) Issues Earnings Results

Adient (NYSE:ADNT) announced its quarterly earnings results on Friday. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15, Briefing.com reports. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Adient had a return on equity of 7.90% and a net margin of 1.39%. Adient’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. Adient updated its FY 2024 guidance to EPS.

Adient Trading Down 9.3 %

NYSE ADNT traded down $2.81 during trading hours on Friday, reaching $27.41. The company’s stock had a trading volume of 2,258,260 shares, compared to its average volume of 1,106,294. The firm has a fifty day simple moving average of $31.82 and a 200-day simple moving average of $33.30. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.15 and a quick ratio of 0.91. Adient has a 52 week low of $26.97 and a 52 week high of $46.51. The stock has a market cap of $2.50 billion, a P/E ratio of 16.82, a P/E/G ratio of 0.29 and a beta of 2.39.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Adient

In related news, EVP Heather M. Tiltmann sold 10,000 shares of Adient stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total value of $336,800.00. Following the transaction, the executive vice president now directly owns 55,669 shares of the company’s stock, valued at $1,874,931.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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.