Adient (NYSE:ADNT) Short Interest Update

Key Points

• Short interest fell 16.8% to 4,860,401 shares as of March 31, representing about 6.3% of shares short and a days-to-cover ratio of 4.5 based on average daily volume.
• Analyst coverage is mixed—five Buys, five Holds and two Sells—giving a MarketBeat consensus rating of "Hold" and a consensus target price of $27.78, with recent upgrades and target changes ranging roughly $22–$33.
• Adient recently beat quarterly expectations (EPS $0.35 vs. $0.19 estimate; revenue $3.64B vs. $3.45B) but still shows a negative net margin (-2.06%), and institutional investors own about 92.44% of the stock.

Adient (NYSE:ADNT - Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 4,860,401 shares, a decline of 16.8% from the March 15th total of 5,842,881 shares. Approximately 6.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,068,326 shares, the days-to-cover ratio is presently 4.5 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ADNT shares. JPMorgan Chase & Co. boosted their target price on shares of Adient from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Adient from a "hold" rating to a "buy" rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Adient from a "hold" rating to a "buy" rating and set a $33.00 target price for the company in a research report on Thursday, February 5th. Morgan Stanley boosted their target price on shares of Adient from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Thursday, February 5th. Finally, Barclays decreased their target price on shares of Adient from $27.00 to $26.00 and set an "equal weight" rating for the company in a research report on Monday, March 30th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.78.

Adient Price Performance

Shares of Adient stock traded up $0.09 during trading hours on Thursday, reaching $20.58. The stock had a trading volume of 1,319,425 shares, compared to its average volume of 1,065,898. The stock's 50 day moving average is $22.37 and its 200 day moving average is $21.56. The firm has a market capitalization of $1.61 billion, a PE ratio of -5.68, a PEG ratio of 0.45 and a beta of 1.55. Adient has a twelve month low of $11.00 and a twelve month high of $27.32. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17.

Adient (NYSE:ADNT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.35 earnings per share 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 revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities analysts expect that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. raised its position in shares of Adient by 62.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company's stock worth $27,000 after purchasing an additional 439 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Adient by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 5,199 shares of the company's stock worth $100,000 after purchasing an additional 764 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Adient by 9.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company's stock worth $193,000 after purchasing an additional 866 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Adient by 5.2% during the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company's stock worth $347,000 after purchasing an additional 899 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Adient by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,947 shares of the company's stock worth $1,782,000 after purchasing an additional 1,065 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

About Adient

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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