Adient (NYSE:ADNT) Rating Lowered to Strong Sell at Zacks Research

Adient (NYSE:ADNT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, Zacks reports.

ADNT has been the topic of a number of other research reports. Weiss Ratings downgraded Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Citigroup reduced their price objective on Adient from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, November 6th. Barclays reduced their price objective on Adient from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, October 9th. JPMorgan Chase & Co. decreased their price objective on Adient from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Finally, Stifel Nicolaus lowered their target price on shares of Adient from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have 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 $24.40.

Adient Price Performance

Shares of ADNT opened at $16.17 on Monday. Adient has a 1-year low of $15.80 and a 1-year high of $27.32. The stock has a market cap of $1.25 billion, a PE ratio of -67.36, a price-to-earnings-growth ratio of 0.20 and a beta of 1.64. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.09 and a quick ratio of 0.90. The firm has a fifty day moving average price of $17.65 and a 200 day moving average price of $20.39.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.13). Adient had a positive return on equity of 7.35% and a negative net margin of 0.11%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the previous year, the business posted $0.52 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Adient will post 2.94 EPS for the current year.

Insider Buying and Selling

In other Adient news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $150,977.75. Following the completion of the transaction, the director owned 38,835 shares in the company, valued at approximately $747,573.75. This represents a 16.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.94% of the company’s stock.

Institutional Trading of Adient

Hedge funds and other institutional investors have recently made changes to their positions in the company. Readystate Asset Management LP acquired a new stake in Adient in the second quarter valued at about $1,078,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Adient by 179.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock valued at $10,658,000 after purchasing an additional 338,517 shares in the last quarter. Principal Financial Group Inc. increased its position in Adient by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 448,624 shares of the company’s stock worth $9,067,000 after purchasing an additional 71,055 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Adient during the 1st quarter worth approximately $1,404,000. Finally, Sei Investments Co. increased its position in Adient by 89.3% during the 1st quarter. Sei Investments Co. now owns 325,443 shares of the company’s stock worth $6,577,000 after purchasing an additional 153,483 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Adient

Adient plc is a global supplier of automotive seating systems and components. Its products include complete vehicle seats, seat structures and mechanisms, foam, and trim for passenger vehicles and commercial vehicles. The company works with automakers to design, engineer, and manufacture seating for vehicles sold around the world. Its operations and customer relationships span multiple major automotive markets. Adient became an independent company in 2016 after separating from Johnson Controls’ automotive seating business.