Adient (NYSE:ADNT) Stock Price Target Lowered at UBS Group

Adient (NYSE:ADNT) had its price objective reduced by UBS Group from $23.00 to $22.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

ADNT has been the subject of several other reports. Citigroup lowered their price objective on Adient from $33.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their target price on Adient from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday. Stifel Nicolaus reduced their target price on Adient from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Zacks Research upgraded Adient from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 16th. Finally, Barclays lowered their price target on Adient from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, October 9th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Adient presently has an average rating of “Hold” and a consensus price target of $24.60.

Adient Trading Down 0.4%

NYSE ADNT opened at $17.13 on Thursday. Adient has a 12 month low of $15.80 and a 12 month high of $27.32. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.09 and a quick ratio of 0.91. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -71.36, a price-to-earnings-growth ratio of 0.24 and a beta of 1.64. The company’s fifty day moving average price is $17.82 and its two-hundred day moving average price is $20.47.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.12). The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.62 billion. Adient had a positive return on equity of 7.35% and a negative net margin of 0.11%. Adient’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, research analysts predict that Adient will post 3.11 earnings per share for the current fiscal year.

Insider Activity at Adient

In related news, Director Peter Carlin sold 7,843 shares of the business’s stock in a transaction dated 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 sale, the director owned 38,835 shares of the company’s stock, valued at $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 is accessible through this hyperlink. Company insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On Adient

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased 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 purchasing an additional 517 shares during the period. PNC Financial Services Group Inc. increased its stake in Adient by 10.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock valued at $152,000 after buying an additional 705 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Adient by 126.4% during the third quarter. Farther Finance Advisors LLC now owns 1,838 shares of the company’s stock valued at $31,000 after acquiring an additional 1,026 shares during the period. Corient Private Wealth LP boosted its stake in Adient by 5.7% during the second quarter. Corient Private Wealth LP now owns 19,371 shares of the company’s stock valued at $356,000 after buying an additional 1,038 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Adient by 12.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,383 shares of the company’s stock worth $237,000 after buying an additional 1,221 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.