Adient (NYSE:ADNT) Rating Lowered to “Neutral” at Bank of America

Adient (NYSE:ADNT) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Thursday,Briefing.com Automated Import reports. They currently have a $24.00 price target on the stock, down from their prior price target of $30.00. Bank of America‘s target price indicates a potential upside of 25.89% from the company’s current price.

ADNT has been the subject of a number of other research reports. Wolfe Research began coverage on shares of Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Barclays reduced their price objective on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price target on shares of Adient in a research report on Tuesday, September 10th. Wells Fargo & Company reduced their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Finally, UBS Group cut their price target on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.38.

Adient Stock Up 0.6 %

Shares of NYSE ADNT opened at $19.07 on Thursday. The stock has a market capitalization of $1.66 billion, a PE ratio of 82.89, a P/E/G ratio of 0.46 and a beta of 2.18. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98. The firm has a fifty day moving average of $21.26 and a 200-day moving average of $23.67. Adient has a 52-week low of $18.73 and a 52-week high of $37.19.

Adient (NYSE:ADNT) last released its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. Adient’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 earnings per share. On average, analysts anticipate that Adient will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ADNT. Sei Investments Co. grew its holdings in Adient by 1.3% during the first quarter. Sei Investments Co. now owns 51,206 shares of the company’s stock valued at $1,686,000 after purchasing an additional 643 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Adient by 17.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 32,122 shares of the company’s stock valued at $1,057,000 after purchasing an additional 4,830 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Adient by 33.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 11,799 shares of the company’s stock valued at $377,000 after buying an additional 2,956 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Adient by 221.5% during the first quarter. Acadian Asset Management LLC now owns 12,914 shares of the company’s stock worth $425,000 after buying an additional 8,897 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Adient by 174.4% during the first quarter. Quadrature Capital Ltd now owns 23,782 shares of the company’s stock worth $783,000 after buying an additional 15,114 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.