Zacks Investment Research upgraded shares of Adient (NYSE:ADNT) from a strong sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Adient plc is an automotive seating supplier. The company produces and delivers automotive seating for vehicle classes and OEMs. It operates primarily in the Americas, Europe, Africa, the Asia Pacific and China. Adient plc is based in Dublin, Ireland. “
Several other brokerages have also issued reports on ADNT. Robert W. Baird lowered Adient from an outperform rating to a neutral rating and set a $89.00 target price for the company. in a research report on Wednesday, January 17th. Wells Fargo decreased their target price on Adient from $85.00 to $75.00 and set an outperform rating for the company in a research report on Thursday, January 25th. UBS decreased their target price on Adient from $96.00 to $92.00 and set a buy rating for the company in a research report on Thursday, January 25th. JPMorgan Chase lowered Adient from a neutral rating to an underweight rating and decreased their target price for the stock from $86.00 to $74.00 in a research report on Monday, January 22nd. Finally, Royal Bank of Canada downgraded Adient from an outperform rating to a sector perform rating and cut their price target for the stock from $98.00 to $79.00 in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $69.92.
Shares of Adient opened at $57.20 on Tuesday, Marketbeat Ratings reports. Adient has a 52-week low of $55.85 and a 52-week high of $56.30. The company has a market capitalization of $5.28 billion, a PE ratio of 6.12, a PEG ratio of 0.64 and a beta of -0.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.04 and a quick ratio of 0.86.
Adient (NYSE:ADNT) last announced its earnings results on Thursday, May 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.04). Adient had a return on equity of 16.65% and a net margin of 0.98%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the company posted $2.50 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. equities research analysts forecast that Adient will post 7.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Wednesday, April 18th were paid a $0.275 dividend. The ex-dividend date was Tuesday, April 17th. This represents a $1.10 annualized dividend and a dividend yield of 1.92%. Adient’s payout ratio is currently 11.76%.
In related news, Director Frederick A. Henderson purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were bought at an average price of $60.50 per share, for a total transaction of $60,500.00. Following the purchase, the director now directly owns 6,715 shares of the company’s stock, valued at approximately $406,257.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Greenwich Wealth Management LLC boosted its stake in Adient by 50.6% during the 1st quarter. Greenwich Wealth Management LLC now owns 8,891 shares of the company’s stock valued at $531,000 after purchasing an additional 2,989 shares during the last quarter. Greenhaven Associates Inc. boosted its stake in Adient by 1.0% during the 1st quarter. Greenhaven Associates Inc. now owns 1,901,848 shares of the company’s stock valued at $113,654,000 after purchasing an additional 19,033 shares during the last quarter. Engineers Gate Manager LP boosted its stake in Adient by 326.1% during the 1st quarter. Engineers Gate Manager LP now owns 81,907 shares of the company’s stock valued at $4,895,000 after purchasing an additional 62,685 shares during the last quarter. Thornburg Investment Management Inc. boosted its stake in Adient by 8.1% during the 1st quarter. Thornburg Investment Management Inc. now owns 65,907 shares of the company’s stock valued at $3,939,000 after purchasing an additional 4,948 shares during the last quarter. Finally, Comerica Bank boosted its stake in Adient by 7.1% during the 1st quarter. Comerica Bank now owns 136,444 shares of the company’s stock valued at $8,582,000 after purchasing an additional 9,013 shares during the last quarter. Institutional investors and hedge funds own 93.02% of the company’s stock.
Adient Company Profile
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.
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