Adient plc (NYSE:ADNT) is one of the best performers on the stock market today. At current price of $22.43, the shares have already added 0.85 points (3.94% higher) from its previous close of $21.58. Should you buy or avoid them? The stock sets an active trading volume day with a reported 241924 contracts so far this session. ADNT shares had a relatively better volume day versus average trading capacity of 2.33 million shares, but with a 93.35 million float and a -9.21% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ADNT stock indicates that the average analyst price target is $22.3 per share. This means the stock has a potential decrease of -0.58% from where the ADNT share price has been trading recently which is between $21.525 and $22.78. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Adient to discuss Q3 fiscal 2019 financial results on August 6, 2019” and dated July 01, 2019.
During the recent trading session for Adient plc (NYSE:ADNT), the company witnessed their stock drop by $-1.41 over a week and surge $1.15 from the price 20 days ago. When compared to their established 52-week high of $49.89, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/18/18. The recent low of $12.15 stood for a -55.04% since 03/25/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Adient plc, the two-week RSI stands at 51.35. This figure suggests that ADNT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ADNT readings is similarly very revealing as it has a stochastic reading of 20.38% at this stage. This figure means that ADNT share price today is being overbought.
Technical chart claims that Adient plc (ADNT) would settle between $22.4/share to $23.22/share level. However, if the stock price goes below the $21.14 mark, then the market for Adient plc becomes much weaker. If that happens, the stock price might even plunge as low as $20.71 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.83. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Credit Suisse, assumed coverage of ADNT assigning Neutral rating, according to their opinion released on June 27. Longbow analysts have lowered their rating of Adient plc (NYSE:ADNT) stock from Buy to Neutral in a separate flash note issued to investors on May 09. Analysts at Buckingham Research lowered the stock to a Underperform call from its previous Neutral recommendation, in a research note that dated back to April 22.
ADNT equity has an average rating of 2.92, with the figure leaning towards a bullish end. 13 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated Adient plc (NYSE:ADNT) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ADNT stock price is currently trading at 6.92X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.49 while for the average stock in the same group, the multiple is 1.5.
Adient plc (ADNT)’s current-quarter revenues are projected to climb by nearly -7.93% to hit $4.14 billion, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -4.85% from $17.44 billion to a noteworthy $16.59 billion. At the other end of the current quarter income statement, Adient plc is expected to see its adjusted earnings surge by roughly -76.55% to hit $0.34 per share. For the fiscal year, ADNT’s earnings are projected to climb by roughly -74.56% to hit $1.43 per share.