Adient (NYSE:ADNT) Stock Moved Down to “Strong Sell” by Zacks Research

Adient (NYSE:ADNT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, Zacks reports.

ADNT has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $28.00 price target on shares of Adient in a research report on Thursday, August 6th. Wall Street Zen cut Adient from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Morgan Stanley cut their target price on Adient from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. Barclays cut their target price on Adient from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, October 9th. Finally, Stifel Nicolaus reduced their target price on Adient from $26.00 to $21.00 and set a “buy” rating for the company in a report on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.40.

Adient Stock Down 1.2%

Adient stock opened at $16.17 on Monday. Adient has a 1-year low of $15.80 and a 1-year high of $27.32. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -67.36, a P/E/G ratio of 0.20 and a beta of 1.64. The company has a current ratio of 1.09, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The firm has a 50 day simple moving average of $17.65 and a 200 day simple moving average of $20.39.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.13). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.62 billion. Adient had a negative net margin of 0.11% and a positive return on equity of 7.35%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. On average, analysts predict that Adient will post 2.94 earnings per share for the current year.

Insider Transactions at Adient

In other Adient news, Director Peter Carlin sold 7,843 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total value of $150,977.75. Following the completion of the transaction, the director directly owned 38,835 shares of the company’s stock, valued at $747,573.75. This trade represents a 16.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ADNT. Ieq Capital LLC boosted its stake in Adient by 43.8% during the third quarter. Ieq Capital LLC now owns 98,060 shares of the company’s stock valued at $1,651,000 after buying an additional 29,882 shares during the period. Focus Advisor Solutions LLC bought a new position in Adient in the 3rd quarter worth about $187,000. Meeder Asset Management Inc. raised its holdings in shares of Adient by 13.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,273 shares of the company’s stock valued at $139,000 after acquiring an additional 1,004 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Adient by 47.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 16,919 shares of the company’s stock valued at $285,000 after acquiring an additional 5,410 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Adient by 123.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 26,278 shares of the company’s stock valued at $462,000 after acquiring an additional 14,512 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Company Profile

Adient plc is a global supplier of automotive seating systems and components. Its products include complete vehicle seats, seat structures and mechanisms, foam, and trim for passenger vehicles and commercial vehicles. The company works with automakers to design, engineer, and manufacture seating for vehicles sold around the world. Its operations and customer relationships span multiple major automotive markets. Adient became an independent company in 2016 after separating from Johnson Controls’ automotive seating business.