Barclays Trims Adient (NYSE:ADNT) Target Price to $24.00

Adient (NYSE:ADNT) had its target price reduced by Barclays from $29.00 to $24.00 in a report issued on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts have also recently commented on the stock. Wells Fargo & Company cut their price target on shares of Adient from $33.00 to $32.00 and set an overweight rating on the stock in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft dropped their target price on Adient from $32.00 to $30.00 and set a hold rating on the stock in a report on Monday, May 6th. 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 note on Monday, July 1st. Bank of America lowered their price target on Adient from $42.00 to $40.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Adient from $32.00 to $31.00 and set a neutral rating for the company in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Adient currently has an average rating of Hold and an average price target of $29.38.

Adient Stock Down 1.4 %

ADNT stock opened at $20.99 on Thursday. The business has a 50-day moving average of $25.03 and a 200-day moving average of $29.40. Adient has a fifty-two week low of $20.18 and a fifty-two week high of $44.39. The stock has a market capitalization of $1.89 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.46 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91.

Adient (NYSE:ADNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a return on equity of 8.72% and a net margin of 1.04%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the company earned $0.98 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Adient will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

A number of large investors have recently added to or reduced their stakes in ADNT. SummerHaven Investment Management LLC increased its holdings in shares of Adient by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock valued at $630,000 after purchasing an additional 310 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Adient by 2.0% during the 1st quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock worth $688,000 after buying an additional 417 shares during the period. CWM LLC grew its stake in Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after buying an additional 443 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Adient by 6.4% in the 1st quarter. Verdence Capital Advisors LLC now owns 8,342 shares of the company’s stock valued at $275,000 after acquiring an additional 501 shares during the period. Finally, Watershed Asset Management L.L.C. lifted its position in Adient by 8.2% during the fourth quarter. Watershed Asset Management L.L.C. now owns 7,818 shares of the company’s stock worth $284,000 after acquiring an additional 595 shares during the last quarter. Institutional investors 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.