Morgan Stanley Cuts Adient (NYSE:ADNT) Price Target to $21.00

Adient (NYSE:ADNT) had its target price decreased by Morgan Stanley from $22.00 to $21.00 in a report published on Tuesday morning, MarketBeat.com reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also recently weighed in on ADNT. BNP Paribas Exane raised shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a research report on Thursday, July 30th. Wells Fargo & Company lifted their price objective on shares of Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Barclays reduced their price objective on shares of Adient from $29.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. JPMorgan Chase & Co. upped their target price on Adient from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, UBS Group dropped their target price on Adient from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Adient currently has a consensus rating of “Hold” and a consensus price target of $26.60.

Adient Stock Performance

ADNT stock opened at $19.47 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The business has a 50-day moving average price of $20.05 and a 200 day moving average price of $21.42. The company has a market capitalization of $1.50 billion, a P/E ratio of 32.45, a PEG ratio of 0.40 and a beta of 1.52. Adient has a 1-year low of $17.68 and a 1-year high of $27.32.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, equities research analysts forecast that Adient will post 2.02 EPS for the current fiscal year.

Insider Activity at Adient

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the sale, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. This trade represents a 16.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in Adient by 11.6% in the first quarter. Royal Bank of Canada now owns 22,429 shares of the company’s stock worth $289,000 after purchasing an additional 2,331 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Adient by 171.1% during the first quarter. AQR Capital Management LLC now owns 238,913 shares of the company’s stock worth $2,977,000 after purchasing an additional 150,792 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Adient during the first quarter worth $236,000. First Trust Advisors LP lifted its holdings in shares of Adient by 6.8% during the 2nd quarter. First Trust Advisors LP now owns 273,823 shares of the company’s stock valued at $5,329,000 after purchasing an additional 17,400 shares during the last quarter. Finally, Amundi purchased a new stake in shares of Adient during the 2nd quarter valued at $269,000. 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.