Adient (NYSE:ADNT) Given New $21.00 Price Target at Morgan Stanley

Adient (NYSE:ADNT) had its price objective dropped by Morgan Stanley from $22.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 4.97% from the stock’s previous close.

A number of other research firms have also commented on ADNT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $28.00 price objective on shares of Adient in a research note on Thursday, August 6th. Wells Fargo & Company boosted their target price on shares of Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Citigroup reduced their target price on shares of Adient from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. BNP Paribas Exane raised shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Adient in a report on Friday, August 7th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.60.

Adient Price Performance

NYSE:ADNT traded down $0.10 during trading hours on Tuesday, reaching $20.00. 35,485 shares of the company traded hands, compared to its average volume of 1,031,228. The firm’s 50-day moving average is $20.21 and its 200-day moving average is $21.45. The stock has a market cap of $1.54 billion, a P/E ratio of 33.34, a P/E/G ratio of 0.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. Adient has a 1-year low of $17.68 and a 1-year high of $27.32.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business posted $0.45 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts expect that Adient will post 2.03 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total transaction of $499,620.00. Following the sale, the executive vice president owned 110,886 shares in the company, valued at $2,518,221.06. This trade 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 available through this link. 0.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adient

Several institutional investors have recently added to or reduced their stakes in ADNT. Vanguard Group Inc. lifted its position in Adient by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 4,684,882 shares of the company’s stock worth $89,809,000 after buying an additional 208,938 shares during the period. Dimensional Fund Advisors LP boosted its stake in Adient by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock worth $88,614,000 after buying an additional 211,843 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Adient by 17.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after buying an additional 336,306 shares during the period. UBS Group AG grew its holdings in Adient by 12.9% in the 4th quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock valued at $35,439,000 after buying an additional 210,758 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Adient by 38.6% during the 4th quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock valued at $30,671,000 after acquiring an additional 445,343 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.