Shares of Adient plc (NYSE:ADNT) traded today at $50.98, eclipsing its 52-week high. Approximately 328,000 shares have changed hands today, as compared to an average 30-day volume of 978,000 shares.
Adient began trading Oct. 31, 2016, when Johnson Controls spun off its automotive experience segment into this new company. Adient is the leading seating supplier to the industry with about one third of the global market as well as a dominant share in China of about 45% which should decline after Adient sells its main Chinese joint venture in calendar 2021. Operations in China are for now accounted for under the equity method so most revenue there is unconsolidated. Unconsolidated seating revenue from joint ventures totaled $9.5 billion in fiscal 2020. The company is headquartered in Ireland but has corporate offices in the Detroit area. Fiscal 2020 consolidated revenue, excluding joint venture sales, was $12.7 billion.
In the past 52 weeks, shares of Adient plc have traded between a low of $13.12 and a high of $50.98 and is now at $47.68, which is 263% above that low price.
There is potential upside of 141.7% for shares of Adient plc based on a current price of $47.68 and an average consensus analyst price target of $115.24.
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