Adient (NYSE:ADNT) Downgraded by Wall Street Zen to Hold

Adient (NYSE:ADNT) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also weighed in on ADNT. Citigroup assumed coverage on shares of Adient in a report on Wednesday, April 23rd. They set a “neutral” rating and a $14.00 target price for the company. Bank of America lowered shares of Adient from a “neutral” rating to an “underperform” rating and cut their target price for the company from $24.00 to $18.00 in a report on Tuesday, March 4th. Barclays lowered shares of Adient from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th. UBS Group lifted their target price on shares of Adient from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company lifted their target price on shares of Adient from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.22.

Adient Stock Performance

Shares of NYSE ADNT opened at $18.37 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. Adient has a 12 month low of $10.04 and a 12 month high of $26.59. The company has a 50 day simple moving average of $14.03 and a two-hundred day simple moving average of $15.58. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 918.50, a PEG ratio of 0.34 and a beta of 1.64.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.33. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. As a group, analysts predict that Adient will post 1.76 earnings per share for the current year.

Institutional Investors Weigh In On Adient

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC increased its holdings in Adient by 22.4% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company’s stock worth $57,879,000 after acquiring an additional 823,638 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Adient by 7.5% in the 1st quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company’s stock worth $50,174,000 after acquiring an additional 272,121 shares in the last quarter. Vanguard Group Inc. increased its holdings in Adient by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company’s stock worth $44,820,000 after acquiring an additional 53,101 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in Adient by 184.2% in the 1st quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company’s stock worth $29,837,000 after acquiring an additional 1,503,817 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Adient by 14.2% during the first quarter. Invesco Ltd. now owns 1,615,317 shares of the company’s stock worth $20,773,000 after buying an additional 201,276 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Company Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.