UBS Group Cuts Adient (NYSE:ADNT) Price Target to $29.00

Adient (NYSE:ADNT) had its target price reduced by UBS Group from $34.00 to $29.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on ADNT. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $28.00 target price on shares of Adient in a research report on Thursday. Citigroup raised Adient from a “neutral” rating to a “buy” rating and upped their target price for the company from $30.00 to $33.00 in a report on Wednesday, April 15th. Wells Fargo & Company increased their price target on Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Stifel Nicolaus dropped their price target on Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, Barclays boosted their price objective on Adient from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.30.

Adient Stock Performance

Shares of ADNT stock opened at $19.50 on Thursday. The firm has a 50-day moving average of $20.57 and a 200-day moving average of $21.55. The company has a market cap of $1.53 billion, a P/E ratio of 32.49, a P/E/G ratio of 0.38 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. Adient has a one year low of $17.68 and a one year high of $27.32.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). Adient had a net margin of 0.32% and a return on equity of 7.32%. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts forecast that Adient will post 2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the transaction, the executive vice president directly owned 110,886 shares of the company’s stock, valued at $2,518,221.06. This represents a 16.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adient

Hedge funds have recently modified their holdings of the stock. Leonteq Securities AG bought a new position in Adient during the fourth quarter valued at $30,000. Quarry LP increased its position in Adient by 163.9% in the third quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after buying an additional 1,431 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after buying an additional 517 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Adient in the second quarter valued at $63,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Adient during the 4th quarter valued at $64,000. Institutional investors own 92.44% of the company’s stock.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.