Adient (ADNT) Downgraded by Royal Bank of Canada to “Sector Perform”

Royal Bank of Canada cut shares of Adient (NYSE:ADNT) from an outperform rating to a sector perform rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has $79.00 target price on the stock, down from their previous target price of $98.00.

Several other equities research analysts also recently issued reports on ADNT. Zacks Investment Research upgraded Adient from a hold rating to a buy rating and set a $94.00 target price on the stock in a research report on Monday, October 2nd. ValuEngine upgraded Adient from a buy rating to a strong-buy rating in a research report on Monday, October 16th. Robert W. Baird restated a buy rating on shares of Adient in a research report on Tuesday, October 17th. UBS Group increased their target price on Adient from $94.00 to $98.00 and gave the stock a buy rating in a research report on Thursday, October 19th. Finally, Barclays increased their target price on Adient to $85.00 and gave the stock an equal weight rating in a research report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $81.30.

Shares of Adient (NYSE ADNT) opened at $72.01 on Monday. The stock has a market capitalization of $6,710.00 and a price-to-earnings ratio of 7.70. Adient has a 12-month low of $59.10 and a 12-month high of $86.42. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.75.

Adient (NYSE:ADNT) last posted its earnings results on Thursday, November 2nd. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.13. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.85 billion. Adient had a return on equity of 22.48% and a net margin of 5.47%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.15 earnings per share. sell-side analysts forecast that Adient will post 9.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, January 18th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, January 17th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.53%. Adient’s dividend payout ratio (DPR) is presently 11.76%.

In related news, Chairman R Bruce Mcdonald sold 67,757 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $78.49, for a total value of $5,318,246.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Cathleen A. Ebacher sold 2,584 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $79.13, for a total value of $204,471.92. Following the completion of the sale, the vice president now owns 36,454 shares in the company, valued at approximately $2,884,605.02. The disclosure for this sale can be found here. Insiders sold 79,525 shares of company stock worth $6,242,744 in the last quarter. 0.14% of the stock is currently owned by company insiders.

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Adient Company Profile

Adient plc, formerly Adient Limited, is an automotive seating supplier. The Company designs, manufactures and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks, including vans, pick-up trucks, and sport/crossover utility vehicles. The Company operates through two segments: Seating and Interiors.

Analyst Recommendations for Adient (NYSE:ADNT)

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