Adient (NYSE:ADNT) Stock Rating Upgraded by BNP Paribas

BNP Paribas upgraded shares of Adient (NYSE:ADNT) from an underperform rating to a neutral rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has $26.00 price target on the stock.

ADNT has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price objective on Adient from $40.00 to $37.00 and set a neutral rating for the company in a report on Monday, April 22nd. Barclays reduced their target price on Adient from $37.00 to $34.00 and set an equal weight rating for the company in a report on Tuesday, May 7th. Wells Fargo & Company reduced their target price on Adient from $33.00 to $32.00 and set an overweight rating for the company in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft dropped their price target on Adient from $32.00 to $30.00 and set a hold rating for the company in a research report on Monday, May 6th. Finally, Bank of America decreased their price target on Adient from $50.00 to $46.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $37.67.

Adient Stock Performance

NYSE:ADNT opened at $24.71 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.91 and a debt-to-equity ratio of 1.00. Adient has a 12-month low of $24.22 and a 12-month high of $46.51. The stock has a 50-day moving average price of $27.38 and a 200 day moving average price of $31.37. The stock has a market capitalization of $2.22 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.33 and a beta of 2.19.

Adient (NYSE:ADNT) last announced its earnings results on Friday, May 3rd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Adient had a return on equity of 8.72% and a net margin of 1.04%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Equities research analysts forecast that Adient will post 2.26 EPS for the current fiscal year.

Insider Activity

In related news, Director Peter Carlin sold 4,207 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.90, for a total transaction of $121,582.30. Following the transaction, the director now directly owns 28,352 shares of the company’s stock, valued at approximately $819,372.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Adient

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Adient in the 4th quarter valued at approximately $18,040,000. HITE Hedge Asset Management LLC increased its holdings in shares of Adient by 158.4% in the 4th quarter. HITE Hedge Asset Management LLC now owns 555,590 shares of the company’s stock valued at $20,201,000 after acquiring an additional 340,618 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Adient by 407.3% in the 3rd quarter. AQR Capital Management LLC now owns 387,662 shares of the company’s stock valued at $14,227,000 after acquiring an additional 311,245 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Adient by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,486,307 shares of the company’s stock valued at $91,247,000 after acquiring an additional 271,786 shares during the last quarter. Finally, Pzena Investment Management LLC increased its holdings in shares of Adient by 17.5% in the 4th quarter. Pzena Investment Management LLC now owns 1,817,382 shares of the company’s stock valued at $66,080,000 after acquiring an additional 270,455 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.