Stock Traders Buy High Volume of Call Options on Adient (NYSE:ADNT)

Adient (NYSE:ADNT) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 4,241 call options on the company. This represents an increase of 1,098% compared to the average daily volume of 354 call options.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Zacks Research raised shares of Adient from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 16th. UBS Group lowered their price objective on shares of Adient from $29.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. BNP Paribas Exane upgraded Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $28.00 target price on shares of Adient in a research report on Thursday, August 6th. Finally, Barclays cut their target price on Adient from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.90.

Insider Transactions at Adient

In related news, Director Peter Carlin sold 7,843 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total value of $150,977.75. Following the completion of the sale, the director directly owned 38,835 shares in the company, valued at approximately $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On Adient

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Adient by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock worth $88,614,000 after purchasing an additional 211,843 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Adient by 17.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after buying an additional 336,306 shares during the last quarter. Bank of America Corp DE raised its stake in Adient by 61.7% during the first quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock valued at $16,017,000 after buying an additional 302,538 shares in the last quarter. Empowered Funds LLC raised its stake in Adient by 23.5% during the first quarter. Empowered Funds LLC now owns 554,572 shares of the company’s stock valued at $11,208,000 after buying an additional 105,435 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Adient by 179.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock valued at $10,658,000 after buying an additional 338,517 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Stock Down 2.0%

Shares of NYSE:ADNT opened at $16.95 on Wednesday. The firm has a market cap of $1.31 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.24 and a beta of 1.64. The company has a fifty day simple moving average of $17.88 and a 200 day simple moving average of $20.53. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. Adient has a 12-month low of $15.91 and a 12-month high of $27.32.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.71 billion. Adient had a net margin of 0.32% and a return on equity of 7.32%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities research analysts anticipate that Adient will post 1.99 EPS for the current fiscal year.

Adient Company Profile

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.