Adient (NYSE:ADNT) Rating Lowered to “Neutral” at Bank of America

Bank of America downgraded shares of Adient (NYSE:ADNT) from a buy rating to a neutral rating in a report issued on Thursday, Marketbeat reports. Bank of America currently has $24.00 price target on the stock, down from their prior price target of $30.00.

Several other brokerages have also weighed in on ADNT. UBS Group reduced their price objective on Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays lowered their price objective on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Finally, StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Adient has a consensus rating of “Hold” and an average price target of $24.38.

Adient Stock Up 1.3 %

Shares of NYSE:ADNT opened at $19.34 on Thursday. Adient has a 1 year low of $18.53 and a 1 year high of $37.19. The company has a market capitalization of $1.64 billion, a PE ratio of 84.09, a price-to-earnings-growth ratio of 0.44 and a beta of 2.18. The business has a fifty day moving average price of $21.19 and a two-hundred day moving average price of $23.54. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. Analysts forecast that Adient will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Several hedge funds have recently bought and sold shares of ADNT. CWM LLC lifted its stake in Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares in the last quarter. US Bancorp DE increased its holdings in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after purchasing an additional 1,588 shares during the period. Signaturefd LLC increased its holdings in shares of Adient by 493.8% in the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after purchasing an additional 1,822 shares during the period. KBC Group NV raised its position in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after buying an additional 1,136 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Adient by 23.2% during 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 during the period. 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.