Adient (NYSE:ADNT) Downgraded by Bank of America to Underperform

Adient (NYSE:ADNT) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They presently have a $18.00 target price on the stock, down from their prior target price of $24.00. Bank of America‘s price target would indicate a potential upside of 22.53% from the stock’s previous close.

Several other brokerages also recently weighed in on ADNT. JPMorgan Chase & Co. cut their price target on Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Morgan Stanley dropped their target price on Adient from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Monday. StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Barclays lowered their price target on Adient from $24.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered shares of Adient from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $27.00 to $20.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.88.

Adient Stock Down 7.2 %

ADNT opened at $14.69 on Tuesday. The business’s fifty day simple moving average is $17.08 and its 200 day simple moving average is $19.48. Adient has a 52 week low of $14.02 and a 52 week high of $35.94. The firm has a market cap of $1.23 billion, a P/E ratio of 734.50, a PEG ratio of 0.34 and a beta of 2.27. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, equities research analysts anticipate that Adient will post 1.76 EPS for the current fiscal year.

Insider Activity

In other news, EVP James Conklin sold 11,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the transaction, the executive vice president now owns 51,829 shares of the company’s stock, valued at approximately $1,049,537.25. This trade represents a 18.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Adient

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its position in Adient by 402.4% in the third quarter. State of Alaska Department of Revenue now owns 49,755 shares of the company’s stock valued at $1,122,000 after acquiring an additional 39,851 shares in the last quarter. US Bancorp DE boosted its stake in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after purchasing an additional 1,588 shares during the period. Principal Financial Group Inc. grew its holdings in Adient by 36.5% during the 3rd quarter. Principal Financial Group Inc. now owns 411,199 shares of the company’s stock valued at $9,281,000 after purchasing an additional 109,850 shares in the last quarter. Covestor Ltd increased its stake in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after buying an additional 1,032 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Adient by 30.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 89,552 shares of the company’s stock worth $2,021,000 after buying an additional 20,745 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.