Adient (NYSE:ADNT) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Adient (NYSE:ADNT) from a buy rating to a hold rating in a research note released on Saturday.

ADNT has been the subject of several other research reports. Stifel Nicolaus decreased their price objective on shares of Adient from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, July 20th. BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price for the company in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $28.00 price target on shares of Adient in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on Adient from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Finally, UBS Group reduced their price objective on Adient from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.10.

Adient Stock Performance

Shares of Adient stock opened at $18.72 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. Adient has a 52 week low of $17.68 and a 52 week high of $27.32. The firm’s 50 day moving average is $20.49 and its two-hundred day moving average is $21.53. The firm has a market capitalization of $1.47 billion, a P/E ratio of 31.20, a P/E/G ratio of 0.38 and a beta of 1.52.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.08). The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. Research analysts forecast that Adient will post 2.08 EPS for the current fiscal year.

Insider Activity

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $22.71, for a total value of $499,620.00. Following the transaction, the executive vice president owned 110,886 shares in the company, valued at $2,518,221.06. The trade was a 16.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Adient

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Adient by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 4,684,882 shares of the company’s stock worth $89,809,000 after buying an additional 208,938 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Adient by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock valued at $88,614,000 after purchasing an additional 211,843 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Adient by 17.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after purchasing an additional 336,306 shares in the last quarter. UBS Group AG boosted its stake in shares of Adient by 12.9% during the 4th quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock worth $35,439,000 after purchasing an additional 210,758 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Adient by 38.6% during the fourth quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock worth $30,671,000 after buying an additional 445,343 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

About Adient

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.