Adient (NYSE:ADNT) Downgraded to “Underperform” Rating by Bank of America

Adient (NYSE:ADNT) was downgraded by stock analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a $18.00 price objective on the stock, down from their prior price objective of $24.00. Bank of America‘s price target would suggest a potential upside of 20.44% from the company’s previous close.

ADNT has been the topic of several other reports. Barclays decreased their target price on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Wells Fargo & Company downgraded shares of Adient from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $27.00 to $20.00 in a research report on Monday, December 16th. Morgan Stanley reduced their price objective on shares of Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, UBS Group boosted their price objective on shares of Adient from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.88.

Adient Stock Up 6.1 %

Shares of NYSE ADNT opened at $14.95 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. Adient has a 52 week low of $13.64 and a 52 week high of $35.94. The firm’s fifty day moving average is $17.02 and its 200 day moving average is $19.42. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 747.25, a PEG ratio of 0.34 and a beta of 2.27.

Adient (NYSE:ADNT) last issued its earnings results on Tuesday, January 28th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same quarter in the previous year, the company earned $0.31 earnings per share. On average, equities research analysts expect that Adient will post 1.76 earnings per share for the current year.

Institutional Trading of Adient

Hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new stake in shares of Adient during the 4th quarter valued at $25,000. Versant Capital Management Inc boosted its stake in Adient by 10,316.7% in the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after purchasing an additional 1,857 shares in the last quarter. R Squared Ltd bought a new position in Adient in the 4th quarter worth about $32,000. IFP Advisors Inc boosted its stake in Adient by 6,924.2% in the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock worth $40,000 after purchasing an additional 2,285 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Adient by 583.8% in the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after purchasing an additional 1,588 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

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.