Bank of America Downgrades Adient (NYSE:ADNT) to Underperform

Adient (NYSE:ADNT) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They currently have a $18.00 target price on the stock, down from their prior target price of $24.00. Bank of America‘s price target points to a potential upside of 22.53% from the company’s current price.

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

Adient Stock Down 7.2 %

Shares of NYSE ADNT opened at $14.69 on Tuesday. The business has a 50-day moving average price of $17.08 and a 200 day moving average price of $19.48. The stock has a market cap of $1.23 billion, a PE ratio of 734.50, a price-to-earnings-growth 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 has a 52-week low of $14.02 and a 52-week high of $35.94.

Adient (NYSE:ADNT) last announced its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (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 business earned $0.31 EPS. Equities research analysts forecast that Adient will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP James Conklin sold 11,500 shares of the business’s stock in a transaction dated 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 owns 51,829 shares of the company’s stock, valued at approximately $1,049,537.25. The trade was a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Adient

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in Adient by 402.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 49,755 shares of the company’s stock valued at $1,122,000 after purchasing an additional 39,851 shares in the last quarter. US Bancorp DE grew its holdings in 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 last quarter. Principal Financial Group Inc. increased its position in shares of Adient by 36.5% in the third quarter. Principal Financial Group Inc. now owns 411,199 shares of the company’s stock valued at $9,281,000 after buying an additional 109,850 shares in the last quarter. Covestor Ltd increased its position in shares of Adient by 23.2% in the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after buying an additional 1,032 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Adient by 30.1% during 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 during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.