Adient (NYSE:ADNT) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Adient (NYSE:ADNT) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks reports.

A number of other equities analysts have also recently issued reports on the stock. BNP Paribas Exane upgraded shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price objective on the stock in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Adient from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Morgan Stanley cut their target price on Adient from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. Barclays lowered their price target on Adient from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Friday, October 9th. Finally, UBS Group cut their price objective on Adient from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.40.

Adient Trading Down 1.2%

Shares of ADNT stock opened at $16.17 on Monday. The business has a 50-day moving average of $17.65 and a 200 day moving average of $20.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.09 and a quick ratio of 0.90. Adient has a 1-year low of $15.80 and a 1-year high of $27.32. The stock has a market capitalization of $1.25 billion, a PE ratio of -67.36, a P/E/G ratio of 0.20 and a beta of 1.64.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.13). Adient had a negative net margin of 0.11% and a positive return on equity of 7.35%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Adient will post 2.94 earnings per share for the current year.

Insider Buying and Selling

In other 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 sale, the director directly owned 38,835 shares of the company’s stock, valued at $747,573.75. This represents a 16.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On Adient

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in shares of Adient in the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC increased its position in Adient by 126.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,838 shares of the company’s stock valued at $31,000 after buying an additional 1,026 shares in the last quarter. Parallel Advisors LLC raised its stake in Adient by 19.4% during the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after buying an additional 517 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Adient during the second quarter valued at $94,000. Finally, Meeder Asset Management Inc. boosted its holdings in Adient by 13.8% in the third quarter. Meeder Asset Management Inc. now owns 8,273 shares of the company’s stock worth $139,000 after acquiring an additional 1,004 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Company Profile

Adient plc is a global supplier of automotive seating systems and components. Its products include complete vehicle seats, seat structures and mechanisms, foam, and trim for passenger vehicles and commercial vehicles. The company works with automakers to design, engineer, and manufacture seating for vehicles sold around the world. Its operations and customer relationships span multiple major automotive markets. Adient became an independent company in 2016 after separating from Johnson Controls’ automotive seating business.