Adient (ADNT) Debt Trading 1.6% Higher

An issue of Adient PLC (NYSE:ADNT) bonds rose 1.6% as a percentage of their face value during trading on Wednesday. The debt issue has a 4.875% coupon and will mature on August 15, 2026. The debt is now trading at $76.00 and was trading at $70.75 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

Several equities analysts have recently commented on ADNT shares. Longbow Research restated a “buy” rating and set a $28.00 price target on shares of Adient in a research note on Monday, January 28th. Barclays set a $19.00 price target on Adient and gave the company a “hold” rating in a research note on Friday, January 4th. Deutsche Bank started coverage on Adient in a research note on Thursday, December 13th. They set a “hold” rating on the stock. Bank of America set a $22.00 price target on Adient and gave the company a “hold” rating in a research note on Tuesday, January 22nd. Finally, Goldman Sachs Group restated a “hold” rating on shares of Adient in a research note on Wednesday, January 16th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.23.

Shares of Adient stock traded up $1.22 on Wednesday, reaching $21.27. 1,129,710 shares of the stock were exchanged, compared to its average volume of 2,581,982. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.25. Adient PLC has a twelve month low of $14.52 and a twelve month high of $67.10. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 3.78, a price-to-earnings-growth ratio of 0.65 and a beta of 2.20.

Adient (NYSE:ADNT) last released its earnings results on Thursday, February 7th. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.17). Adient had a positive return on equity of 13.15% and a negative net margin of 8.54%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same period last year, the firm earned $1.06 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts anticipate that Adient PLC will post 2.6 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its position in shares of Adient by 1,406.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 553,094 shares of the company’s stock valued at $37,000 after buying an additional 516,368 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Adient in the fourth quarter valued at approximately $91,000. Bank of Montreal Can increased its position in shares of Adient by 34.3% in the fourth quarter. Bank of Montreal Can now owns 7,639 shares of the company’s stock valued at $114,000 after buying an additional 1,952 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Adient by 7.4% in the fourth quarter. D.A. Davidson & CO. now owns 10,306 shares of the company’s stock valued at $155,000 after buying an additional 709 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Adient by 50.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,708 shares of the company’s stock valued at $176,000 after buying an additional 3,914 shares in the last quarter.

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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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