Adient (NYSE:ADNT) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company cut shares of Adient (NYSE:ADNT) from an overweight rating to an equal weight rating in a report released on Monday morning, MarketBeat.com reports. Wells Fargo & Company currently has $20.00 price target on the stock, down from their prior price target of $27.00.

A number of other research analysts have also recently commented on ADNT. Wolfe Research started coverage on Adient in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. Bank of America cut shares of Adient from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. Finally, Morgan Stanley decreased their target price on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.50.

Adient Stock Down 1.9 %

Shares of NYSE:ADNT opened at $17.27 on Monday. The stock has a 50-day simple moving average of $20.22 and a 200-day simple moving average of $22.39. The stock has a market capitalization of $1.47 billion, a P/E ratio of 75.09, a PEG ratio of 0.32 and a beta of 2.15. Adient has a 1 year low of $17.12 and a 1 year high of $37.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11.

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. Adient had a net margin of 0.12% and a return on equity of 6.86%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. Adient’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts forecast that Adient will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other Adient news, EVP James Conklin sold 11,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the transaction, the executive vice president now owns 51,829 shares of the company’s stock, valued at $1,049,537.25. This trade represents a 18.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Adient

A number of institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in shares of Adient by 85.4% in the 3rd quarter. Franklin Resources Inc. now owns 59,694 shares of the company’s stock worth $1,305,000 after acquiring an additional 27,491 shares during the period. M&T Bank Corp bought a new position in Adient in the 3rd quarter worth about $357,000. Barclays PLC increased its stake in shares of Adient by 127.0% in the third quarter. Barclays PLC now owns 208,239 shares of the company’s stock valued at $4,701,000 after purchasing an additional 116,518 shares during the period. State Street Corp raised its holdings in shares of Adient by 4.8% during the third quarter. State Street Corp now owns 3,443,471 shares of the company’s stock valued at $77,719,000 after buying an additional 158,017 shares during the last quarter. Finally, Readystate Asset Management LP boosted its position in shares of Adient by 122.7% during the third quarter. Readystate Asset Management LP now owns 24,330 shares of the company’s stock worth $549,000 after buying an additional 13,406 shares during the period. 92.44% of the stock is currently owned by institutional investors.

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.