Adient (NYSE:ADNT) Shares Gap Down – Should You Sell?

Adient (NYSE:ADNT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $23.99, but opened at $21.61. Adient shares last traded at $20.45, with a volume of 228,192 shares changing hands.

Analyst Ratings Changes

ADNT has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on Adient from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Adient in a report on Wednesday, October 8th. Wall Street Zen downgraded Adient from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. Barclays increased their price target on Adient from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Finally, UBS Group increased their price target on Adient from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $24.00.

Adient Stock Down 12.2%

The company has a market cap of $1.71 billion, a P/E ratio of -7.93, a PEG ratio of 0.82 and a beta of 1.87. The stock’s 50-day moving average price is $24.12 and its 200-day moving average price is $20.69. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.15.

Adient (NYSE:ADNT) last released its quarterly earnings data on Wednesday, May 31st. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $3.51 billion for the quarter. Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%. As a group, research analysts forecast that Adient will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Adient

Several large investors have recently added to or reduced their stakes in ADNT. Jump Financial LLC lifted its position in shares of Adient by 38.1% during the 1st quarter. Jump Financial LLC now owns 226,173 shares of the company’s stock worth $2,909,000 after buying an additional 62,444 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Adient during the 1st quarter worth approximately $1,036,000. Vanguard Group Inc. lifted its position in shares of Adient by 1.5% during the 1st 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. Entropy Technologies LP bought a new position in shares of Adient during the 1st quarter worth approximately $138,000. Finally, HITE Hedge Asset Management LLC lifted its position in shares of Adient by 184.2% during the 1st quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company’s stock worth $29,837,000 after buying an additional 1,503,817 shares in the last quarter. Institutional investors 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.