Adient (NYSE:ADNT) Stock Price Up 7.3% - Still a Buy?

Adient plc (NYSE:ADNT - Get Free Report)'s share price traded up 7.3% on Tuesday . The stock traded as high as $17.46 and last traded at $17.67. 181,733 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,418,413 shares. The stock had previously closed at $16.47.

Analyst Ratings Changes

Several brokerages have recently commented on ADNT. Bank of America cut Adient from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $24.00 to $18.00 in a research report on Tuesday, March 4th. Citigroup initiated coverage on shares of Adient in a report on Wednesday, April 23rd. They set a "neutral" rating and a $14.00 price target on the stock. Barclays cut Adient from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. Wells Fargo & Company upped their target price on Adient from $14.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $18.22.

Adient Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. The stock's 50-day moving average price is $13.87 and its 200 day moving average price is $15.64. The company has a market cap of $1.54 billion, a P/E ratio of 918.50, a price-to-earnings-growth ratio of 0.34 and a beta of 1.64.

Adient (NYSE:ADNT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.33. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The business's revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. As a group, research analysts expect that Adient plc will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Adient

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC grew its position in Adient by 22.4% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company's stock worth $57,879,000 after purchasing an additional 823,638 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Adient by 7.5% in the first quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company's stock valued at $50,174,000 after buying an additional 272,121 shares during the period. Vanguard Group Inc. grew its position in Adient by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company's stock worth $44,820,000 after buying an additional 53,101 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in Adient by 184.2% during the first quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company's stock valued at $29,837,000 after acquiring an additional 1,503,817 shares during the period. Finally, Invesco Ltd. increased its stake in Adient by 14.2% during the first quarter. Invesco Ltd. now owns 1,615,317 shares of the company's stock valued at $20,773,000 after acquiring an additional 201,276 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

About Adient

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.