Adient (NYSE:ADNT) Shares Down 5.4%
Adient PLC (NYSE:ADNT)’s stock price fell 5.4% on Wednesday . The company traded as low as $22.30 and last traded at $22.88, 1,474,699 shares traded hands during trading. A decline of 33% from the average session volume of 2,208,167 shares. The stock had previously closed at $24.18.
A number of research firms have weighed in on ADNT. Royal Bank of Canada upped their price target on Adient to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Barclays raised Adient from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $16.00 to $30.00 in a research report on Tuesday, April 16th. Morgan Stanley set a $12.00 price target on Adient and gave the stock a “sell” rating in a research report on Wednesday, June 26th. UBS Group set a $30.00 price target on Adient and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, ValuEngine upgraded Adient from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $22.47.
The company has a market cap of $2.26 billion, a P/E ratio of 4.07 and a beta of 3.19. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 1.07. The company has a 50 day moving average of $22.93.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Adient by 26.7% during the 2nd quarter. BlackRock Inc. now owns 10,228,254 shares of the company’s stock worth $248,239,000 after purchasing an additional 2,153,155 shares in the last quarter. Lyrical Asset Management LP raised its stake in shares of Adient by 5.1% during the 2nd quarter. Lyrical Asset Management LP now owns 4,763,487 shares of the company’s stock worth $115,610,000 after purchasing an additional 231,369 shares in the last quarter. Letko Brosseau & Associates Inc. raised its stake in Adient by 45.5% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 3,212,774 shares of the company’s stock valued at $41,638,000 after acquiring an additional 1,005,238 shares during the period. Vanguard Group Inc. raised its stake in Adient by 35.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,510,946 shares of the company’s stock valued at $60,942,000 after acquiring an additional 652,917 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Adient in the 2nd quarter valued at $55,463,000. Institutional investors own 97.75% of the company’s stock.
About Adient (NYSE:ADNT)
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.
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