Bank of America Trims Adient (NYSE:ADNT) Target Price to $40.00

Adient (NYSE:ADNT) had its price objective reduced by Bank of America from $42.00 to $40.00 in a research note released on Monday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Morgan Stanley cut their price objective on shares of Adient from $35.00 to $32.00 and set an underweight rating for the company in a report on Friday, May 10th. BNP Paribas upgraded Adient from an underperform rating to a neutral rating and set a $26.00 price target for the company in a research report on Monday, July 1st. Barclays cut their target price on Adient from $34.00 to $29.00 and set an equal weight rating for the company in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Adient from $32.00 to $30.00 and set a hold rating for the company in a research report on Monday, May 6th. Finally, UBS Group dropped their price objective on Adient from $31.00 to $27.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $34.33.

Adient Price Performance

Adient stock opened at $25.38 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. The business’s 50 day simple moving average is $26.16 and its 200 day simple moving average is $30.26. Adient has a 12 month low of $22.93 and a 12 month high of $46.51. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.34 and a beta of 2.19.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.15. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. Adient had a return on equity of 8.72% and a net margin of 1.04%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. Sell-side analysts forecast that Adient will post 2.21 EPS for the current year.

Insider Buying and Selling at Adient

In other news, Director Peter Carlin sold 4,207 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.90, for a total value of $121,582.30. Following the completion of the sale, the director now directly owns 28,352 shares in the company, valued at approximately $819,372.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CWM LLC increased its stake in Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares during the period. Partnership Wealth Management LLC bought a new stake in Adient during the 4th quarter valued at $83,000. Covestor Ltd boosted its position in Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after buying an additional 2,210 shares during the period. Lazard Asset Management LLC bought a new stake in Adient in the 1st quarter worth $135,000. Finally, TFO Wealth Partners LLC increased its position in shares of Adient by 41,090.9% in the fourth quarter. TFO Wealth Partners LLC now owns 4,531 shares of the company’s stock valued at $1,650,000 after acquiring an additional 4,520 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Adient

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.