Adient (NYSE:ADNT) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Adient (NYSE:ADNT) from a buy rating to a hold rating in a research note released on Friday morning.

A number of other equities analysts have also recently commented on the company. Wolfe Research began coverage on Adient in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Morgan Stanley cut their price objective on Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $27.00 to $20.00 in a report on Monday, December 16th. Bank of America downgraded Adient from a “buy” rating to a “neutral” rating and cut their price target for the company from $30.00 to $24.00 in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, Adient has an average rating of “Hold” and an average price target of $23.50.

Adient Trading Down 2.4 %

Shares of Adient stock opened at $16.85 on Friday. The stock has a market cap of $1.43 billion, a P/E ratio of 73.26, a P/E/G ratio of 0.32 and a beta of 2.15. 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 has a 12-month low of $16.77 and a 12-month high of $37.19. The business’s 50 day moving average is $19.94 and its 200-day moving average is $22.16.

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

Insiders Place Their Bets

In other news, EVP James Conklin sold 11,500 shares of Adient stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the completion of the sale, the executive vice president now directly owns 51,829 shares in the company, 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 accessible through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Adient

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE increased its holdings in Adient by 583.8% in the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after buying an additional 1,588 shares during the period. Signaturefd LLC raised its position in Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock valued at $49,000 after purchasing an additional 1,822 shares in the last quarter. KBC Group NV lifted its stake in Adient by 51.8% during the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after purchasing an additional 1,136 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Adient by 23.2% in the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after purchasing an additional 1,032 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Adient in the 2nd quarter valued at $227,000. 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.