Adient (NYSE:ADNT) Lowered to “Equal Weight” Rating by Wells Fargo & Company

Adient (NYSE:ADNT) was downgraded by research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat reports. They currently have a $20.00 target price on the stock, down from their prior target price of $27.00. Wells Fargo & Company‘s target price suggests a potential upside of 13.64% from the company’s previous close.

A number of other research analysts also recently commented on the company. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. Bank of America lowered shares of Adient from a “buy” rating to a “neutral” rating and lowered their target price for the company from $30.00 to $24.00 in a research note on Thursday, November 21st. Morgan Stanley reduced their price target on shares of Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. Finally, Wolfe Research started coverage on shares of Adient in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.50.

Adient Stock Down 0.1 %

Shares of NYSE:ADNT opened at $17.60 on Monday. The stock has a 50-day simple moving average of $20.30 and a 200-day simple moving average of $22.47. The stock has a market capitalization of $1.49 billion, a P/E ratio of 75.83, a PEG ratio of 0.32 and a beta of 2.15. Adient has a 1 year low of $17.20 and a 1 year high of $37.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11.

Adient (NYSE:ADNT) last released its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. Adient had a return on equity of 6.86% and a net margin of 0.12%. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the business earned $0.51 EPS. Adient’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that Adient will post 2.04 earnings per share for the current year.

Insider Activity

In related news, EVP James Conklin sold 11,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the completion of the sale, the executive vice president now directly owns 51,829 shares of the company’s stock, valued at approximately $1,049,537.25. This represents a 18.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adient

Several institutional investors have recently bought and sold shares of the company. CWM LLC grew its position in Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares in the last quarter. US Bancorp DE boosted its stake in shares of Adient by 583.8% during the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after buying an additional 1,588 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Adient by 493.8% in the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock valued at $49,000 after acquiring an additional 1,822 shares in the last quarter. KBC Group NV increased its position in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Adient by 23.2% in the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after acquiring an additional 1,032 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.