Adient (NYSE:ADNT) Price Target Cut to $40.00 by Analysts at Bank of America

Adient (NYSE:ADNT) had its target price cut by Bank of America from $42.00 to $40.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Morgan Stanley lowered their price target on Adient from $35.00 to $32.00 and set an underweight rating for the company in a research note on Friday, May 10th. Wells Fargo & Company lowered their price target on Adient from $33.00 to $32.00 and set an overweight rating for the company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lowered their price target on Adient from $32.00 to $31.00 and set a neutral rating for the company in a research note on Monday. BNP Paribas raised Adient from an underperform rating to a neutral rating and set a $26.00 price target for the company in a research note on Monday, July 1st. Finally, UBS Group lowered their price target on Adient from $31.00 to $27.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $34.33.

Adient Stock Performance

Shares of NYSE:ADNT opened at $25.10 on Monday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.45 and a beta of 2.19. Adient has a 1-year low of $22.93 and a 1-year high of $46.51. The company has a current ratio of 1.13, a quick ratio of 0.91 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $26.08 and a two-hundred day moving average price of $30.23.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.15. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Adient had a return on equity of 8.72% and a net margin of 1.04%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Equities analysts predict that Adient will post 2.21 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Peter Carlin sold 4,207 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.90, for a total transaction of $121,582.30. Following the completion of the sale, the director now directly owns 28,352 shares of the company’s stock, valued at approximately $819,372.80. The transaction 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

Large investors have recently bought and sold shares of the company. CWM LLC boosted its position in Adient by 44.5% during the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after acquiring an additional 443 shares during the last quarter. Partnership Wealth Management LLC acquired a new position in Adient during the 4th quarter worth approximately $83,000. Covestor Ltd boosted its position in Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after acquiring an additional 2,210 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Adient during the 1st quarter worth approximately $135,000. Finally, TFO Wealth Partners LLC boosted its position in Adient by 41,090.9% during the 4th quarter. TFO Wealth Partners LLC now owns 4,531 shares of the company’s stock worth $1,650,000 after acquiring an additional 4,520 shares during the last quarter. Institutional investors and hedge funds 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.