Adient PLC (ADNT) Sees Significant Growth in Short Interest

Adient PLC (NYSE:ADNT) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 4,885,251 shares, a growth of 59.7% from the January 12th total of 3,059,709 shares. Based on an average daily volume of 2,433,661 shares, the days-to-cover ratio is currently 2.0 days. Currently, 5.3% of the company’s shares are sold short.

Shares of Adient (NYSE:ADNT) opened at $62.45 on Wednesday. Adient has a 1 year low of $59.10 and a 1 year high of $86.42. The company has a market cap of $5,820.00 and a PE ratio of 11.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.02.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Monday, January 29th. The company reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.79). The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Adient had a net margin of 3.19% and a return on equity of 18.72%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $2.12 earnings per share. equities analysts predict that Adient will post 7.51 earnings per share for the current fiscal year.

In other news, Chairman R Bruce Mcdonald sold 67,757 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $78.49, for a total value of $5,318,246.93. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederick A. Henderson bought 4,000 shares of Adient stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $61.78 per share, for a total transaction of $247,120.00. Following the completion of the transaction, the director now directly owns 5,715 shares in the company, valued at $353,072.70. The disclosure for this purchase can be found here. Insiders sold a total of 79,525 shares of company stock valued at $6,242,744 over the last 90 days. Company insiders own 0.70% of the company’s stock.

A number of analysts have recently weighed in on ADNT shares. Barclays reaffirmed a “hold” rating and issued a $81.00 target price on shares of Adient in a research report on Friday, November 10th. Guggenheim set a $64.00 target price on shares of Adient and gave the stock a “hold” rating in a research report on Tuesday, January 30th. Robert W. Baird reduced their target price on shares of Adient from $81.00 to $73.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th. UBS Group cut their price objective on shares of Adient from $96.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Morgan Stanley cut their price objective on shares of Adient from $89.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $72.09.

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Adient Company Profile

Adient plc, formerly Adient Limited, is an automotive seating supplier. The Company designs, manufactures and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks, including vans, pick-up trucks, and sport/crossover utility vehicles. The Company operates through two segments: Seating and Interiors.

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