Barclays Lowers Adient (NYSE:ADNT) Price Target to $21.00

Adient (NYSE:ADNT) had its price target decreased by analysts at Barclays from $24.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 22.59% from the stock’s previous close.

Several other brokerages also recently issued reports on ADNT. Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $27.00 to $20.00 in a research report on Monday, December 16th. Morgan Stanley decreased their price objective on Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Bank of America cut Adient from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $24.00 in a research note on Thursday, November 21st. Finally, StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research note on Saturday, December 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.13.

Adient Stock Performance

NYSE ADNT traded down $0.34 during trading hours on Wednesday, hitting $17.13. The company had a trading volume of 131,265 shares, compared to its average volume of 1,082,414. The business has a fifty day simple moving average of $18.38 and a 200-day simple moving average of $20.90. Adient has a fifty-two week low of $16.28 and a fifty-two week high of $36.04. The firm has a market cap of $1.45 billion, a P/E ratio of 74.33, a price-to-earnings-growth ratio of 0.29 and a beta of 2.16. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. Equities analysts predict that Adient will post 2.04 EPS for the current year.

Insider Activity at Adient

In related news, EVP James Conklin sold 11,500 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total transaction of $232,875.00. Following the sale, the executive vice president now directly owns 51,829 shares of the company’s stock, valued at approximately $1,049,537.25. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Adient by 38,074.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock worth $116,110,000 after acquiring an additional 5,130,969 shares during the period. Pzena Investment Management LLC boosted its holdings in Adient by 45.0% in the third quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock worth $63,771,000 after purchasing an additional 877,142 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Adient by 86.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock valued at $28,019,000 after acquiring an additional 525,280 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Adient by 9.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock valued at $117,298,000 after acquiring an additional 442,200 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Adient in the third quarter worth about $6,653,000. 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.