Adient (NYSE:ADNT) Short Interest Update

Key Points

• Short interest in Adient fell by 17.5% in February to 5,568,875 shares (about 7.2% of the stock) with a days-to-cover of 7.3.
• Adient topped expectations for the quarter—reporting $0.35 EPS vs. $0.19 expected and revenue of $3.64B—but still posted a negative net margin (-2.06%) and trades near $19.70 with a market cap of $1.54B.
• Analyst sentiment is mixed (average rating "Hold" with an average target of $27.67), and institutional investors control roughly 92.44% of the shares.

Adient (NYSE:ADNT - Get Free Report) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 5,568,875 shares, a decline of 17.5% from the February 12th total of 6,746,867 shares. Currently, 7.2% of the shares of the stock are short sold. Based on an average daily volume of 763,350 shares, the days-to-cover ratio is currently 7.3 days. Based on an average daily volume of 763,350 shares, the days-to-cover ratio is currently 7.3 days. Currently, 7.2% of the shares of the stock are short sold.

Adient Trading Down 0.3%

NYSE:ADNT traded down $0.06 on Monday, reaching $19.70. The stock had a trading volume of 762,210 shares, compared to its average volume of 1,117,034. Adient has a 12-month low of $10.04 and a 12-month high of $27.32. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -5.44, a P/E/G ratio of 0.43 and a beta of 1.55. The firm's fifty day moving average is $22.87 and its two-hundred day moving average is $22.17. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 0.88.

Adient (NYSE:ADNT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.16. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. Equities analysts expect that Adient will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Greenwich Wealth Management LLC boosted its holdings in shares of Adient by 1.3% during the second quarter. Greenwich Wealth Management LLC now owns 35,211 shares of the company's stock worth $685,000 after purchasing an additional 435 shares during the last quarter. Hantz Financial Services Inc. increased 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 purchasing an additional 439 shares during the last quarter. GAMMA Investing LLC lifted its position in Adient by 17.2% during the fourth quarter. GAMMA Investing LLC now owns 5,199 shares of the company's stock worth $100,000 after buying an additional 764 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Adient by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company's stock worth $193,000 after buying an additional 866 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Adient by 5.2% in the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company's stock worth $347,000 after buying an additional 899 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADNT has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Adient from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, January 12th. Citigroup lifted their price target on Adient from $22.50 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Wall Street Zen upgraded shares of Adient from a "hold" rating to a "buy" rating in a research report on Friday, January 23rd. UBS Group increased their price objective on shares of Adient from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Finally, Bank of America began coverage on shares of Adient in a report on Wednesday, March 4th. They set an "underperform" rating and a $22.00 target price for the company. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.67.

Adient Company Profile

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.

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