Insider Selling: Adient (NYSE:ADNT) Director Sells 7,843 Shares

Adient (NYSE:ADNT) Director Peter Carlin sold 7,843 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total value of $150,977.75. Following the sale, the director directly owned 38,835 shares in the company, valued at $747,573.75. This represents a 16.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Adient Price Performance

Adient stock traded up $0.40 during mid-day trading on Friday, reaching $19.97. 619,079 shares of the company were exchanged, compared to its average volume of 1,016,794. The firm has a market cap of $1.54 billion, a PE ratio of 33.28, a PEG ratio of 0.39 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The company has a fifty day simple moving average of $19.65 and a 200-day simple moving average of $21.00. Adient has a 12 month low of $17.68 and a 12 month high of $27.32.

Adient (NYSE:ADNT) last released its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share 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 business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, equities research analysts expect that Adient will post 2.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADNT has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of Adient from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Morgan Stanley cut their price target on shares of Adient from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. JPMorgan Chase & Co. increased their price target on shares of Adient from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $28.00 price objective on shares of Adient in a research note on Thursday, August 6th. Finally, Weiss Ratings cut Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADNT. Parallel Advisors LLC raised its stake in Adient by 19.4% during the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after acquiring an additional 517 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Adient by 10.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock valued at $152,000 after purchasing an additional 705 shares in the last quarter. Corient Private Wealth LLC grew its holdings 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 valued at $347,000 after purchasing an additional 899 shares during the last quarter. Corient Private Wealth LP grew its holdings in shares of Adient by 5.7% during the 2nd quarter. Corient Private Wealth LP now owns 19,371 shares of the company’s stock valued at $356,000 after purchasing an additional 1,038 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 valued at $1,782,000 after purchasing an additional 1,065 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Company Profile

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.