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

Adient (NYSE:ADNT) had its price target decreased by Barclays from $24.00 to $21.00 in a research report report published on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

ADNT has been the topic of several other reports. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a report on Saturday, December 28th. Wells Fargo & Company downgraded shares of Adient from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $27.00 to $20.00 in a research note on Monday, December 16th. Morgan Stanley dropped their price objective on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Finally, Bank of America cut shares of Adient from a “buy” rating to a “neutral” rating and decreased their target price for the company from $30.00 to $24.00 in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.13.

Adient Trading Up 1.2 %

Shares of ADNT stock opened at $17.09 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a fifty day simple moving average of $18.10 and a two-hundred day simple moving average of $20.75. The firm has a market capitalization of $1.45 billion, a PE ratio of 74.29, a PEG ratio of 0.28 and a beta of 2.16. Adient has a 52-week low of $16.28 and a 52-week high of $36.04.

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

Insiders Place Their Bets

In related news, EVP James Conklin sold 11,500 shares of the company’s stock in a transaction 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 in the company, valued at $1,049,537.25. This represents a 18.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adient

A number of large investors have recently added to or reduced their stakes in ADNT. Susquehanna Fundamental Investments LLC grew its position in shares of Adient by 85.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 152,940 shares of the company’s stock worth $3,779,000 after buying an additional 70,611 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Adient by 144.9% in the third quarter. BNP Paribas Financial Markets now owns 210,477 shares of the company’s stock valued at $4,750,000 after acquiring an additional 124,539 shares in the last quarter. HITE Hedge Asset Management LLC grew its holdings in Adient by 125.3% in the second quarter. HITE Hedge Asset Management LLC now owns 512,703 shares of the company’s stock worth $12,669,000 after purchasing an additional 285,104 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Adient by 202.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 69,831 shares of the company’s stock valued at $1,576,000 after purchasing an additional 46,766 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Adient by 36.5% during the 3rd quarter. Principal Financial Group Inc. now owns 411,199 shares of the company’s stock valued at $9,281,000 after purchasing an additional 109,850 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Adient Company Profile

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.