Wall Street Zen Downgrades Adient (NYSE:ADNT) to Hold

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

A number of other research firms have also commented on ADNT. Barclays raised their price objective on shares of Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. decreased their target price on shares of Adient from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Citigroup upgraded shares of Adient from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $33.00 in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $28.00 price target on shares of Adient in a report on Thursday. Finally, UBS Group reduced their price target on shares of Adient from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.30.

Adient Stock Performance

Shares of ADNT opened at $19.50 on Friday. The stock’s 50-day simple moving average is $20.57 and its 200 day simple moving average is $21.55. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 0.38 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. Adient has a 52-week low of $17.68 and a 52-week high of $27.32.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). Adient had a return on equity of 7.32% and a net margin of 0.32%.The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts forecast that Adient will post 2.08 EPS for the current fiscal year.

Insider Activity at Adient

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the transaction, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On Adient

A number of institutional investors and hedge funds have recently bought and sold shares of ADNT. Leonteq Securities AG purchased a new position in Adient in the 4th quarter worth approximately $30,000. Quarry LP raised its position in shares of Adient by 163.9% during the 3rd quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after buying an additional 1,431 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Adient during the 2nd quarter valued at $63,000. Parallel Advisors LLC lifted its holdings in shares of Adient by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after acquiring an additional 517 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Adient during the 4th quarter worth $64,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.