Adient plc (NYSE:ADNT) Receives Average Rating of “Reduce” from Brokerages

Adient plc (NYSE:ADNT) has been assigned an average recommendation of “Reduce” from the nine brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $23.50.

A number of brokerages recently commented on ADNT. Bank of America cut shares of Adient from a “buy” rating to a “neutral” rating and dropped their price target for the company from $30.00 to $24.00 in a research note on Thursday, November 21st. Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $27.00 to $20.00 in a report on Monday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price target on shares of Adient in a research report on Tuesday, September 10th. Morgan Stanley dropped their price objective on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com raised Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th.

Adient Stock Performance

NYSE:ADNT opened at $17.27 on Friday. The company has a market capitalization of $1.47 billion, a P/E ratio of 75.09, a P/E/G ratio of 0.32 and a beta of 2.15. The business has a fifty day simple moving average of $20.22 and a two-hundred day simple moving average of $22.39. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. Adient has a 1 year low of $17.12 and a 1 year high of $37.19.

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

Insider Buying and Selling

In related news, EVP James Conklin sold 11,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the sale, the executive vice president now directly owns 51,829 shares of the company’s stock, valued at $1,049,537.25. This trade represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adient

Institutional investors have recently made changes to their positions in the stock. 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 worth $36,000 after acquiring an additional 443 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Adient by 7.7% in the 2nd quarter. SG Americas Securities LLC now owns 31,979 shares of the company’s stock worth $790,000 after purchasing an additional 2,296 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Adient by 3.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock valued at $449,000 after purchasing an additional 556 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Adient by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 923,881 shares of the company’s stock valued at $22,829,000 after buying an additional 5,426 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Adient by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,532 shares of the company’s stock valued at $507,000 after buying an additional 2,853 shares in 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.