Adient (NYSE:ADNT) Lowered to Hold Rating by StockNews.com

Adient (NYSE:ADNT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research analysts have also issued reports on ADNT. Morgan Stanley dropped their price target on shares of Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. Bank of America downgraded Adient from a “buy” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $24.00 in a research note on Thursday, November 21st. Wells Fargo & Company cut Adient from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $27.00 to $20.00 in a research report on Monday. Finally, Wolfe Research initiated coverage on shares of Adient in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.50.

Adient Stock Performance

Adient stock traded down $0.41 during mid-day trading on Friday, reaching $16.85. 2,712,413 shares of the company were exchanged, compared to its average volume of 1,230,568. The firm’s 50-day simple moving average is $19.94 and its two-hundred day simple moving average is $22.24. Adient has a twelve month low of $16.77 and a twelve month high of $37.19. The firm has a market cap of $1.43 billion, a PE ratio of 73.26, a price-to-earnings-growth ratio of 0.32 and a beta of 2.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11.

Adient (NYSE:ADNT) last issued its quarterly earnings results 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 firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. Equities analysts predict that Adient will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Adient

In other news, EVP James Conklin sold 11,500 shares of the 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 in the company, valued at $1,049,537.25. This represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. US Bancorp DE lifted its holdings in Adient by 583.8% in the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after purchasing an additional 1,588 shares in the last quarter. Signaturefd LLC raised its position in shares of Adient by 493.8% in the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock valued at $49,000 after buying an additional 1,822 shares during the last quarter. KBC Group NV lifted its stake in shares of Adient by 51.8% during the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after buying an additional 1,136 shares during the period. Covestor Ltd boosted its position in Adient by 23.2% during the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after acquiring an additional 1,032 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Adient during the second quarter worth approximately $227,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.