Adient (NYSE:ADNT) Shares Gap Up After Strong Earnings

Adient (NYSE:ADNTGet Free Report) shares gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $21.06, but opened at $22.84. Adient shares last traded at $23.37, with a volume of 102,717 shares changing hands.

The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.16. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the business posted $0.27 earnings per share. Adient’s revenue was up 4.3% compared to the same quarter last year.

Key Adient News

Here are the key news stories impacting Adient this week:

Wall Street Analyst Weigh In

ADNT has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on Adient from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Adient in a report on Wednesday, January 21st. Barclays boosted their target price on Adient from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Wells Fargo & Company increased their price target on shares of Adient from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Finally, Citigroup reduced their price objective on shares of Adient from $25.00 to $22.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.94.

Read Our Latest Analysis on Adient

Insider Buying and Selling

In other Adient news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of Adient stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.71, for a total value of $49,275.00. Following the transaction, the executive vice president owned 116,425 shares of the company’s stock, valued at approximately $2,294,736.75. The trade was a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On Adient

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Greenwich Wealth Management LLC increased its stake in shares of Adient by 1.3% in the 2nd quarter. Greenwich Wealth Management LLC now owns 35,211 shares of the company’s stock valued at $685,000 after purchasing an additional 435 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Adient by 62.6% in the third quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock valued at $27,000 after buying an additional 439 shares in the last quarter. GAMMA Investing LLC grew its position in Adient by 17.2% in the fourth quarter. GAMMA Investing LLC now owns 5,199 shares of the company’s stock valued at $100,000 after acquiring an additional 764 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Adient by 9.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company’s stock worth $193,000 after acquiring an additional 866 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in Adient by 3.1% during the second quarter. Yousif Capital Management LLC now owns 37,363 shares of the company’s stock worth $727,000 after acquiring an additional 1,114 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Price Performance

The business’s fifty day moving average price is $20.31 and its 200 day moving average price is $22.03. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 0.93. The stock has a market cap of $1.98 billion, a P/E ratio of -6.97, a PEG ratio of 0.59 and a beta of 1.61.

Adient Company Profile

(Get Free Report)

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.

Further Reading

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