Morgan Stanley Cuts Adient (NYSE:ADNT) Price Target to $19.00

Adient (NYSE:ADNT) had its target price reduced by Morgan Stanley from $21.00 to $19.00 in a report issued on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Bank of America reduced their target price on Adient from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wells Fargo & Company lowered their price target on Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Wolfe Research initiated coverage on Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, UBS Group lowered their target price on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Adient has a consensus rating of “Hold” and an average price target of $25.13.

Adient Stock Performance

ADNT opened at $19.89 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.73 billion, a PE ratio of 86.48, a P/E/G ratio of 0.44 and a beta of 2.18. The business has a fifty day simple moving average of $21.32 and a 200-day simple moving average of $23.84. Adient has a fifty-two week low of $19.30 and a fifty-two week high of $37.19.

Adient (NYSE:ADNT) last released its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The business 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%. Adient’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. As a group, equities analysts predict that Adient will post 2.51 EPS for the current fiscal year.

Institutional Trading of Adient

Several large investors have recently added to or reduced their stakes in ADNT. Pacer Advisors Inc. raised its holdings in Adient by 38,074.9% during the third quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock valued at $116,110,000 after buying an additional 5,130,969 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Adient by 45.0% during the 3rd quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock valued at $63,771,000 after acquiring an additional 877,142 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Adient by 86.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock valued at $28,019,000 after acquiring an additional 525,280 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Adient by 9.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after purchasing an additional 442,200 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in Adient during the third quarter worth approximately $6,653,000. 92.44% of the stock is 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.