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

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Adient PLC (NYSE:ADNT) saw unusually large options trading on Wednesday. Stock traders acquired 2,107 call options on the company. This represents an increase of approximately 986% compared to the average daily volume of 194 call options.

ADNT opened at $19.24 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.03. Adient has a 52-week low of $14.52 and a 52-week high of $84.08. The company has a market cap of $1.42 billion, a PE ratio of 3.42, a price-to-earnings-growth ratio of 0.29 and a beta of 1.67.

Adient (NYSE:ADNT) last posted its earnings results on Friday, November 9th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.04. Adient had a positive return on equity of 13.51% and a negative net margin of 9.66%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the firm earned $2.34 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Adient will post 4.38 EPS for the current year.

A number of research firms recently weighed in on ADNT. Wells Fargo & Co restated a “hold” rating and issued a $30.00 target price (down previously from $50.00) on shares of Adient in a research report on Wednesday, October 17th. Bank of America raised Adient from an “underperform” rating to a “hold” rating and set a $44.00 price target on the stock in a research note on Thursday, September 13th. Deutsche Bank initiated coverage on Adient in a research note on Thursday, December 13th. They issued a “hold” rating on the stock. Morgan Stanley decreased their price target on Adient from $43.00 to $20.00 and set a “sell” rating on the stock in a research note on Wednesday, November 14th. Finally, Barclays set a $19.00 price target on Adient and gave the stock a “hold” rating in a research note on Friday, January 4th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $37.92.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Taylor Asset Management Inc. increased its stake in shares of Adient by 23.6% during the second quarter. Taylor Asset Management Inc. now owns 6,800 shares of the company’s stock valued at $334,000 after buying an additional 1,300 shares during the period. Mount Yale Investment Advisors LLC boosted its position in shares of Adient by 268.8% during the second quarter. Mount Yale Investment Advisors LLC now owns 2,032 shares of the company’s stock valued at $100,000 after purchasing an additional 1,481 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Adient by 29.5% during the third quarter. Private Advisor Group LLC now owns 7,445 shares of the company’s stock valued at $293,000 after purchasing an additional 1,697 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Adient by 15.6% during the second quarter. Envestnet Asset Management Inc. now owns 13,633 shares of the company’s stock valued at $671,000 after purchasing an additional 1,844 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Adient by 1.4% during the third quarter. First Trust Advisors LP now owns 143,337 shares of the company’s stock valued at $5,635,000 after purchasing an additional 1,988 shares in the last quarter. 97.85% of the stock is currently owned by hedge funds and other institutional investors.

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About Adient

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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