Adient (NYSE:ADNT) Upgraded by Zacks Research to Hold Rating

Adient (NYSE:ADNT) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

ADNT has been the topic of a number of other research reports. UBS Group lowered their price target on Adient from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Stifel Nicolaus cut their price objective on Adient from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Citigroup reduced their target price on Adient from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $28.00 target price on shares of Adient in a report on Thursday, August 6th. Finally, Weiss Ratings cut Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.30.

Adient Stock Up 1.6%

Adient stock opened at $18.51 on Wednesday. The firm has a market capitalization of $1.43 billion, a PE ratio of 30.86, a P/E/G ratio of 0.37 and a beta of 1.52. The company’s 50-day moving average is $19.65 and its 200-day moving average is $20.56. Adient has a fifty-two week low of $17.68 and a fifty-two week high of $27.32. 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 (NYSE:ADNT) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). Adient had a net margin of 0.32% and a return on equity of 7.32%. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Adient will post 2.02 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total value of $150,977.75. Following the transaction, the director owned 38,835 shares in the company, valued at approximately $747,573.75. This represents a 16.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On Adient

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its holdings in shares of Adient by 117.8% during the 1st quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock worth $18,464,000 after purchasing an additional 494,054 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Adient by 179.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock valued at $10,658,000 after purchasing an additional 338,517 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Adient by 17.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after purchasing an additional 336,306 shares in the last quarter. Bank of America Corp DE lifted its position in Adient by 61.7% during the first quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock worth $16,017,000 after purchasing an additional 302,538 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Adient by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock worth $88,614,000 after purchasing an additional 211,843 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.

The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.

Adient became an independent public company in 2016 after being separated from Johnson Controls’ automotive seating business.