Morgan Stanley Cuts Adient (NYSE:ADNT) Price Target to $17.00

Adient (NYSE:ADNT) had its target price lowered by Morgan Stanley from $19.00 to $17.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

ADNT has been the topic of several other reports. Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $27.00 to $20.00 in a report on Monday, December 16th. StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Bank of America downgraded Adient from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $30.00 to $24.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. reduced their price objective on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, Barclays reduced their price objective on Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.88.

Adient Trading Up 6.1 %

Shares of NYSE ADNT opened at $14.95 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The business’s 50 day moving average price is $17.02 and its 200-day moving average price is $19.42. Adient has a fifty-two week low of $13.64 and a fifty-two week high of $35.94. 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 quarterly earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share 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 period in the previous year, the company earned $0.31 earnings per share. On average, sell-side analysts expect that Adient will post 1.76 earnings per share for the current year.

Institutional Trading of Adient

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in shares of Adient by 38,074.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock worth $116,110,000 after purchasing an additional 5,130,969 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Adient by 45.0% in the 3rd quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock worth $63,771,000 after purchasing an additional 877,142 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Adient in the 4th quarter worth $11,395,000. Millennium Management LLC boosted its position in shares of Adient by 2,039.0% in the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company’s stock worth $10,516,000 after purchasing an additional 581,779 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in shares of Adient by 122.4% in the 4th quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company’s stock worth $14,065,000 after purchasing an additional 449,272 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.